<version/> should be 40.0 (Summer '17).
However, the latest MavensMate (v0.0.11-beta.7) uses 34.0.
What are some best practices for updating
package.xmlin a code repository (such as BitBucket) when the whole team uses MavensMate for coding?
How frequently is it recommended to update
Is it recommended to update it with every release (thrice a year)?