I wholeheartedly agree but I do want to note that designing a custom theme would take time. We would likely need to work with the default theme, edit the color scheme, and make other adjustments to our liking. Not the worst thing in the world as I personally find the default theme aesthetically pleasing.
We've been working on a test board in the background, doing a dry run upgrade. Essentially, I'd like to upgrade a dummy copy of WebFlake to the latest copy (4.0.5.1), install all necessary or desired applications and plugins, ensure smooth functionality and then perform a live upgrade with a backup on hand just in case. Virtually every hook/app we use now is available in some form or another for IPS4; or at least better alternatives. We certainly can't put our future on hold for a few apps/hooks that may or may not be upgraded for 4.x either.
I also want to mention, for clarification purposes, that I'm of the opinion that the longer we wait to upgrade, the worse off we'll be. It'll leave us hand-tied with simple daily tasks as we try to get used to the new mechanics of IPS4 and provide support for our users as well; it'd be an awful lot of work. I'd much rather be upgraded in the coming week or two, giving us ample time to work on our site, make needed adjustments, and then prep for the influx of users we're sure to get when 3.4.x support is officially dropped by IPS. Of the votes cast thus far, 33% of them had no idea 3.4.x support was being dropped by IPS. That means a lot of folks are going to be upgrading last-minute, so the better prepared we are, the better off we are.