'Major' releases (roughly corresponding to Linux kernel even releases) would occur every ~ 18-36 months. These releases would be full executable, doc, etc. This seems to be the crux of what many people want. They want a vibrant changing language. But they don't want to have to deal with that change. They want longer cycles. We are talking about users of the language, not hard-core developers. These releases would still go through the alpha, beta, gamma releases. The last development release in a cycle would become the first alpha.
Bugfix or point releases (eg, 2.x.y) would be made as needed, ~ 3 months. These releases would still go through the alpha, beta, gamma releases. This release would be concurrent with the development release.
BINGO! That's what I want as a production user. Punctuated equilibrium, as the paleontologists call it. (I'd tighten up the interval to 12-18 months, but that's a quibble.)