It's true that releases are lagging and they have to make up for it, but based on BOR's schedule, they plan to do most of the "catch-up" later in the summer. So I'd still expect a peak in the upper 3530s, but then it will start to drop relatively fast by the end of July into August. Here's the BOR's planned average daily releases by month through September, all put in terms of cfs:
Apr - 8,425 cfs
May - 9,748 cfs
Jun - 11,402 cfs
Jul - 13,166 cfs
Aug - 14,429 cfs
Sep - 11,200 cfs
Now in a year like this one, you can expect inflows to return to the 6-8,000 cfs range by the end of July, so you can see what kind of net deficits the lake will be running in August, when the net outflow will probably be in the range of 7-8,000 cfs. If that's the case, expect the lake to drop about 6-8 feet in August, and maybe 5 feet in September. (rule of thumb: 0.1 ft of rise or fall with each 3500 cfs net inflow or outflow). So if I had to game this out, here's my prediction for lake levels through the summer:
Apr 30 - 3525
May 31 - 3530
Jun 30 - 3539
Jul 31 - 3537
Aug 31 - 3530
Sep 30 - 3525