The toolchains for v5 and v7h architectures have been updated to GCC 4.7.1 and glibc 2.16.0. Updated crosstool-ng instructions and pre-built toolchain tarballs are available on the site now as well. An important thing to note is that the compiler triplet and runtime linker path for v7h has changed slightly. The triplet is now armv7l-unknown-linux-gnueabihf (originally armv7l-unknown-linux-gnueabi) and this is reflected in the makepkg.conf of the latest version of pacman in the repositories. When you upgrade pacman, be sure to merge any of your changes to makepkg.conf into the new version, or vice versa. For ARM hard-float, it was agreed to use ld-linux-armhf.so.3 as the new library name, though we've patched glibc and created a symlink for the original ld-linux.so.3 to maintain compatibility with our existing binaries.