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From the official WordPress site you can see that the latest stable version is 2.2.2 - it's better to do updates to your blog platform. I recommend to do this at least once or twice in six months (following the official releases).

That way you will get the latest cool features they keep on adding to WordPress, and also get away from bugs and security issues regarding old versions (and believe me, there are bugs and stuff that a bad hacker can use to bring your blog down).

Dont forget to backup your blog before installing updates, if something goes wrong, you will save time and money!