I've been using uTorrent 3.4.X for a little over a month now and using it to seed AnimeBytes torrents. The software works quite well. All the ads can be disabled, the ram usage isn't that bad, and the disk overloaded issue has been fixed. The client is quite stable in my opinion. I haven't noticed any seeding or downloading issues either. It performs as well as uTorrent 2.2 did.
Here's a screenshot (the UI looks very similar to previous versions. It isn't bloated and ad-infested like you mentioned. It actually looks quite sleek.):
I agree that uTorrent 3.3.X was terrible. The thing crashed as soon as I attempted to download a big torrent, and would often freeze my entire OS (the only fix was a hard reboot). It was bug infested and gave me many issues (drove me back to 2.2 for a while), but it seems that the devs are finally realizing that if they don't fix the software, people will move to another client. 3.4.X is a step in the right direction, and I hope that this continues.
All I ask is for the staff to give 3.4 a second chance. Also, I realize both AnimeBytes and BakaBT are two different websites, but Animebytes (private anime torrent site with similar bittorrent client rules as BakaBT) doesn't seem to have any issues with uTorrent 3.4.2 as they have whitelisted it for a while and nobody has reported any issues with it on the forum.
Also, please please note that I'm not trying to argue or anger any of the staff. I love you guys and love this website far too much for starting petty wars and arguments.