Well, I went ahead as per your advice (used cvs update -dP -r MOODLE_14_STABLE). Althought I haven't had time to check things like quizzes, etc. the upgrade seemed to go all right. It looks like it is important to specify the tree (I probably knew this, but in the heat of class preparation, forgot).
Installing and upgrading help
Upgrade from 1.3.4 to (I thought 1.4) but only 1.3.5 beta
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