Well, it really depends on how you are going to deploy your application. I believe that using .net 4.0 might be a good idea, because installing a new version of the framework is very simple, especially using the built-in deployment tools in VS.
So, why look for an βolderβ structure when you have the opportunity to use a better version? Will you get any benefits from using 4.0 instead of 3.5?
I believe, yes, but maybe not, in which case you can go for 3.5
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