I am currently using Alfresco 3.4.d CE and it works fine. Only few things lacking like not getting google docs to integrate properly, etc. Overall is a good experience. Everyone is happy about it.
Is Alfresco 3.4.e CE as stable version like 3.4.d version?
FYI, Alfresco 4.0 CE doesn't have records management, and I checked with them. It would probably by end of this year.
I have yet to decide on the commercial versions. Reason being, we are still rather a small team. Unless my team grows and I could see a better value, then moving into standard or commercial will make more sense.