gcc 4.0.x with Dev-C++ ide... safe?

Is there any specific, technical reason Dev-C++ includes mingw-gcc 3.4.2, or is it safe to overwrite gcc 3.4.2 with gcc 4.0.2?

Any compiler flags 4.0.2 has deprecated that Dev-C++ assumes exists, etc?

I find it hard to believe there's no C++ IDE that's as decent as SharpDevelop is for C#.  SharpDevelop IDE > any C++ IDE, despite that C++ > C#.