I downloaded 3.4.07 from Source Forge and in config.asp I found the connection string option for '## MS SQL Server 2005 w/ SQL Native Client, but when I went to create tables in the database while setting up the forums for the first time, there were still just two options. Below is the screen options found on this URL (http://localhost/Snitz_3_4_07/setup.asp?RC=5&strDBType=sqlserver):

Installation of forum-tables in the database.
Database Type: Microsoft SQL Server

Select the SQL-server version you are using:

SQL-Server 6.5
SQL-Server 7 / 2000

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I also found the same thing in the MOD Setup area on http://localhost/Snitz_3_4_07/admin_mod_dbsetup.asp:

You are using SQL Server, please select the correct version
SQL 7.x SQL 6.x

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Also, I noticed that the copyright in the footer (bottom right) on the new install is set to last year:

© 2000-08 Snitz Communications