we're making very good progress in Sqoop 2 land. Current code base still can't move any data around, but I'm sure that we're very close to have something usable and testable soon. With this regard, I would like to propose doing some pre/alpha/beta/unstable/preview/pick-your-own-word-for-unstable-code release as soon as possible to provide early adopters first testable bits. My motivation to provide early bits is to get feedback from actual users as soon as possible, so that we can incorporate good ideas before it will become too expensive.
However releasing such early state raises question what version should we release. I would say that most simple idea is to release version "2.0.0", however due to unstable nature, I believe that it's very bad idea. Hadoop seems to be adding "-alpha" to the version names, for example "2.0.1-alpha". I don't quite like this solution as I would personally expect that there will be 2.0.1 stable (without "alpha" suffix) that won't have any new features but will be stable soon. As this won't be the case for Sqoop, I would like to propose slightly different solution that I've seen in some other projects. I would like to propose doing release 1.99.1. I believe that the version number implies that it's very far from current stable 1.4 version and very very near to 2.0, but it's not 2.0 yet. I would like to see other opinions about using 1.99.1 version for first cut of our Sqoop 2 branch.
I actually did not invent this idea - I've seen in before. For example KDE project  is using very similar approach for quite some time by now as you can see on their archive . Versions like 4.8.90 or 4.8.95 are "pre-releases" for 4.9. Another example would be Ubuntu one client .