- Emacs 21 is coming up which might mean quite a few changes.
       Should I split in two branches, or should I try to support all
       Emacsen in one branch?

It would be nice to have everything together.  But if keeping everything
together adds too much code (more  than, say, 5% of code), rms will want
to remove that for inclusion in emacs 21.
   
     - Should there be a stable and a development branch, where the
       stable branch gets only bug fixes whereas the development branch
       gets the new features?  (I don't see lots of new features right
       now, though.  But there's still the todo list at the end of
       rcp.el...)

That would  be nice,  but I think  it is  premature.  There are  too few
rcp.el users right  now, and adding an unstable  branch would reduce the
testing community to few people.  When rcp.el will become part of emacs,
the version distributed with emacs will be the stable one.

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