I am having issues with the new 3.0 version as well. I found and fixed my issue, and wanted to put it out here in case anyone else saw it while researching. My setup was working fine on the 1.2x client, and in my case it was because I did not have an MTU defined and upon moving to the new 3.0 client, all of a sudden my client would connect and immediately disconnect, and repeat that cycle indefinitely.
My server logs were showing this message when the disconnect was happening -
WARNING: Bad encapsulated packet length from peer (5635), which must be > 0 and <= 1627 -- please ensure that --tun-mtu or --link-mtu is equal on both peers
I started pinging my server until I found the right MTU value, by following this guide -
https://www.sonassi.com/help/troubleshooting/setting-correct-mtu-for-openvpn
I started at 1500 per the instructions, and found my reply at 1470. I added to my openvpn config "mssfix 1430" as the MSS value is 40 less than your MTU value.
After adding this, and reimporting my profile in the new client, it's now working as expected. Not sure if the lack of an MTU setting might trip up someone else, but wanted to add it since this is the only 3.0 thread where people are talking about issues.