From the technical side please be aware before trying to update: WordPress has new minimum system requirements:
PHP 5.2.4 and MySQL 5.0. PHP4 is not supported anymore.
It is better 1 time to see than 100 times to hear. So please look this advertisement video prepared for us by WordPress team:
Abby Johnson from WebProNews posted an interview with Matt Mullenweg about the philosophy and thinking behind the WordPress 3.2 release. It is available in video form also:
ShinePHP.com is running on WordPress 3.2 now. Update process is smooth, smart and problem-less.
Are you plan to update your current WordPress version to 3.2 in the nearest future? Do you have problem with PHP >5.2.4 and MySQL >5.0 with your current hosting provider?