One new option in vB3 is the use of a "profile picture". I was talking to Chruser about it, and we thought that perhaps it would be better used to allow members to upload sigs, since convenient, reliable sig hosting appears to be scarce. If we use it for profile pictures, it will appear where my old avatar is in the member profile:
http://zelaron.com/forums/member.php?u=110
If we use it for signatures, I'll remove it from the member profile page, and add a link or a button so that you can easily access it from the sig editor.

The size allowed for the image will also vary depending on what it's used for.

Vote and give your opinion.

Edit:

Clarification: The profile picture uploads just like avatars.