The latest version of coverage.py has just hit PyPI: coverage.py v3.7. This is mostly a bug fix release, but I also added a few new minor behavior changes.
Details of the changes are in the change log.
This will be the last version numbered 3.x. The next version will be 4.0, and will drop support for older Pythons (<2.6), old interfaces that aren't used any more, etc.