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When checking out any release version from the git tree, my expectation was that AC_INIT would have the correct version number for that release.
Joe, Each release is made with a release script from our git repo, and then we tag the git with corresponding release version. If we have to keep changing AC_INIT() version in configure.ac, we need one more commit per qa release, which should go through the whole patch process. We are not planing to change the version inside our git repo per releases, instead the source-code available with the release tarball will have the proper version set.