Just logging my progress upgrading to MT3.2beta. I uploaded MT3.2b over MT3.17 files (except mt.cfg), went to mt.cgi and was prompted to upgrade my database. Clicked the button provided for me and it proceeded to FAIL on the DB upgrade. That yielded numerous errors with various error message written onto my index page. Being on the way out the door for a meeting, I didn't have time to record the error messages. :-\
I restored my backups and everything was back to its old self in no time. Gotta love those backups. They save my neck every time. ;-)
I will continue in the morning... already turning into a pumpkin due to too many late nights this week.

Depending on the type of failure, with the pre-betas I played around with I found that if the upgrade process hung (perhaps if it failed -- I haven't tested this) and if you re-ran it, it would pick up from where it left off.
Cool, I'll try that. I'm making my morning espresso as I type... as soon as the caffeine hits my system I'll give it a go. ;-)