diff --git a/README b/README
index e0902bb170..0715128013 100644
--- a/README
+++ b/README
@@ -1,5 +1,5 @@
 ############################################################
-          GnuCash 1.5.x README file.
+          GnuCash 1.7.x README file.
 
 NOTE: THIS IS A DEVELOPMENT RELEASE!!! THIS VERSION HAS NOT
 BEEN TESTED PROPERLY AND MAY DO ABSOLUTELY ANYTHING!  
@@ -7,7 +7,7 @@ BEEN TESTED PROPERLY AND MAY DO ABSOLUTELY ANYTHING!
 USE AT YOUR OWN RISK (AND KEEP *LOTS* OF BACKUPS)
 
 If you want something a bit more tested, please use the
-1.4 stable series.
+1.6 stable series.
 ------------------------------------------------------------
 
 ##################
diff --git a/README.patches b/README.patches
index 6a7e7553d4..c305ab7525 100644
--- a/README.patches
+++ b/README.patches
@@ -1,6 +1,13 @@
 ############################################################
-          Gnucash 1.6.x README.patches file.
+          Gnucash 1.7.x README.patches file.
 
+NOTE: THIS IS A DEVELOPMENT RELEASE!!! THIS VERSION HAS NOT
+BEEN TESTED PROPERLY AND MAY DO ABSOLUTELY ANYTHING!  
+
+USE AT YOUR OWN RISK (AND KEEP *LOTS* OF BACKUPS)
+
+If you want something a bit more tested, please use the
+1.6 stable series.
 ------------------------------------------------------------
 
 Submitting a Patch:
diff --git a/configure.in b/configure.in
index 0b4170924e..3560f24bd9 100644
--- a/configure.in
+++ b/configure.in
@@ -24,7 +24,7 @@ dnl Process this file with autoconf to produce a configure script.
 ### commands depend on them):
 
 AC_INIT(src/guile/gnucash.h)
-AM_INIT_AUTOMAKE(gnucash,1.5.98)
+AM_INIT_AUTOMAKE(gnucash,1.7.0)
 AM_CONFIG_HEADER(config.h)
 
 AC_CANONICAL_HOST
diff --git a/doc/sgml/C/xacc-about.sgml b/doc/sgml/C/xacc-about.sgml
index 0f760469ef..8c373715b0 100644
--- a/doc/sgml/C/xacc-about.sgml
+++ b/doc/sgml/C/xacc-about.sgml
@@ -25,17 +25,17 @@ offers, have a look at the <link linkend="xacc-features">Features
     are intended to be stable, only seeing maintenance to fix bugs,
     and "odd" sub-versions indicate an "experimental" stream that
     seeks to add enhancement.
-    The latest stable release is 1.4.x; if you don't intend to
+    The latest stable release is 1.6.x; if you don't intend to
     do development work, you should be using either this version,
     or an older stable version. These versions are fairly stable,
     with all currently known bugs fixed.
-    The present "experimental" stream is gnucash-1.5.x, which is
+    The present "experimental" stream is gnucash-1.7.x, which is
     now almost at beta-test stage.  This is the version you are
     using right now, obviously!   If you are using this version
     with real data, PLEASE MAKE BACKUPS REGULARLY!
 
-    Once the 1.5.x series stabilizes, the next stable series
-    will be 1.6.x.
+    Once the 1.7.x series stabilizes, the next stable series
+    will be 1.8.x.
 
  </para>
 <para>If you wish to "hack" on the experimental version, you should