We are trying to adopt the successful Git branching model implemented by git-flow. Now, we are working on at least two release-branches, one for the latest stable release an
I personally think the mentioned git-flow is overcomplicated.
If you are using GitHub try the GitHub flow (as described by Scott Chacon).
It is especially useful for collaboration on multiple features, code-review and you could combine it with your Continuous Integration solution using the Commit Status API.
UPDATE: There is a new official website of The GitHub Flow™
UPDATE 2: There is a new official (and simplified) GitHub Guide for The GitHub Flow™: https://guides.github.com/introduction/flow/