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On the bright side, I suppose this'll mean hackers will be concentrating on vulnerabilities in PHP rather than WordPress.

So twice the fun? :D We farm out 99% of our WordPress stuff as we just can't deal with the constant security / upgrades battle.

It's a royal pain if you want to maintain a small blog. The whole idea behind WordPress is that it makes publishing on the Internet easier. It may well do that, but there's a fair amount of tech knowledge required to do that safely. And even then, one is reliant on too many third parties.