What I feel is missing in the article is some actual word on how bad(?) this is for the "Agile Keychain Format", which to my understanding is used for sync by all versions, including 4 (http://learn.agilebits.com/1Password4/Security/rollout.html). The article just alludes to the situation being fairly dire in comparison (and seemingly avoiding the subject makes me think that is the correct conclusion), despite the "Agile Keychain Format" still being heavily used for what seems to be one of the more sensitive storage locations.
Also, relating to that it would be very interesting to hear some indication on when the transition to the new format will become available.
Edit: I should add that maybe it's just the headline that causes me to have a negative reaction, I suppose the actual point should be more about the importance of long passphrases. The article even has links to previous articles that while a bit old do cover the general concerns for the older scheme, just that the links are not in a context where it's entirely obvious that they will have that information.