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3.2 branch is "8th long-term stable release from March 2012 to 2015, used in Ubuntu 12.04 LTS, Debian 7 Wheezy and Slackware 14.0" (http://en.wikipedia.org/wiki/Linux_kernel#Maintenance).

Not "current stable" but still stable and maintained.

Ubuntu 12.04.2 LTS is on Linux 3.5.0 now.

I'm curious if it's worth upgrading servers; I've stuck to the 3.2.0.39.47 (current) on 12.04.2 LTS boxes so far.

Nah, I upgraded a few servers...Didn't see much improvement.

Wait for 3.8, with tcp slow start improvments.