RPM of latest version of ImageMagick library is available in remi repository for Fedora ≤ 16 and Enterprise Linux.
The ImageMagick-last-libs package is designed to be installed beside ImageMagick from official repository. Applications will use the needed version of the libraries.
If you have not installed ImageMagick yet, and don't need the old library, you can also install ImageMagick2-last to get the latest version of the command.
I have open a request to split the official package (creation of ImageMagick-libs), this will allow to install both versions of the libraries, and to choose the tools version (see Bug #849065).
Of course php-pecl-imagick-3.1.0-0.3.RC2 and php-magickwand-1.0.9-3 have been updated in remi repository to use this version.
Packages are not available for Fedora 17, which already have a recent version (same soname).