Please, you have to update to 1.5! I did, and if you dont update for ten days, i lose my residence! Please please please update soon, or make it so i cant lose my res. I couldnt bear to see it all gone. Just, please make it so i dont lose it!
EMC will wait for 1.5.1 and mojang said that 1.5.1 will be out next week, this was posted 2 days ago. http://mojang.com/ So expect EMC to take a week or two, maybe more to update to 1.5.1