Re: Not backwards compatible...
I remember someone telling me that when PHP5 came out he decided to switch to Python because either way he had to learn a new language.
Rewriting your own code is often not the biggest problem for a version change: dependence upon third-party libraries can be a real deal-breaker.
I hate PHP with a passion but the new version does bring some significant performance and memory improvements. This might be attractive if you can switch with minimal changes.
OTOH just drink the Node.js kool-aid and go with the callback flow!