One good reason to update your WordPress installation to 3.1.4 is the security fixes in this release. WordPress 3.1.4 addresses a security vulnerability that could allow a malicious editor-level user to gain further access to the site.WordPress 3.1.4

In addition to security fixes, there are a number of other fixes in this latest release from WordPress. To upgrade to 3.1.4, go to your Dashboard (admin console) and select “Automatic Update”. It is very important that you backup your WordPress database before upgrading. If you would like to manually upgrade your WordPress installation, visit this link.

A third release candidate (RC3) for WordPress 3.2 has also been published. In the announcement, WordPress Lead Developer Ryan Boren said that “This release was about all that stood in the way of a final release of WordPress 3.2.” WordPress 3.2 RC3 contains all of the fixes included in 3.1.4, as well as JavaScript and user interface tweaks.

WordPress version 3.2 requires PHP 5.24 and MySQL 5.0.