Previously I blogged about how to bring your SharePoint deployments to at least up to Service Pack 1, and some general approaches on how to ensure that you apply the correct updates to each of your deployments. Any new SharePoint farm that is being deployed now should definitely have service pack 1 included. Also please please use x64 you'll be doing yourselves a big favour by choosing the x64 architecture and the binaries.
Microsoft has made available the February updates which also happen to include the previously released post SP 1 infrastructure updates.
Recommendation for a new SharePoint Server installation and configuration is as follows: (Note that you should download the correct version and you have to install the WSS update first then the MOSS update)
Detailed Descriptions of the February updates
Description of the Windows SharePoint Services 3.0 cumulative update package: February 24, 2009
Description of the Microsoft Office SharePoint Server 2007 cumulative update package: February 24, 2009
If you are new to the topic of applying updates to SharePoint please read through the following TechNet articles. These articles provide important information about the update process and guidelines on how to approach each update. In any case you should make a full backup of your farm before applying these updates.
Deploy software updates for Windows SharePoint Services 3.0
http://technet.microsoft.com/en-us/library/cc288269.aspx
Deploy software updates for Office SharePoint Server 2007
http://technet.microsoft.com/en-us/library/cc263467.aspx
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