Where to install custom framework to support a plug-in architecture?

I'm trying to set up a lightweight custom framework against which I can hang a 
plugin architecture ~ dynamic bundle loading. 

Where would you place such a framework ?  I have been targeting 
~/Library/Frameworks for the moment, but suspect there is a scheme which would 
allow this to all be contained with the Application Support context for my app 
or in the app bundle itself. But of course, the examples I can find all refer 
to XC3. I'm quite happy to read documentation if anyone can point me at 
something reasonably current.

Clues gratefully appreciated.
Erik
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