I've only been using Wordpress for the last few months and there is now an update. I've spent ages modding and editing stuff. If I upgrade what will I lose?
Shouldn't lose anything. Just make sure you make a backup of everything before upgrading though. You can pay me a small fee to upgrade it for you if you want assurance everything will be fine.
Make sure your plugins are compatible with the new version of WordPress. If not, you will lose that functionality.
They should have the category issue resolved in 2.6.1. Depending on what version you are currently running, you may be vulnerable to many security flaws.
Quick note: I think that if your current version is 2.3.2 you should be ok for a 2.6 upgrade without losing categories.
if u have ur wp files and db backup then u will lose nothing. Before upgrading new version u need to save 1- .htaccess file (if u have some custom codes in it) 2- wp-config.php wp-content folder 3- in wp-include folder plugins and themes.
If the upgrade is for security, then that makes it more important IMO to upgrade sooner rather than later. I usually wait a while, as this gives the plugin developers time to upgrade their plugins if needed for the new version. If you are relying heavily on some plugins you should wait until they are upgraded. Also, make sure your theme is upgraded too, or better yet check it on a test wordpress blog using the new version to make sure it works. Nothing sucks like killing a theme during an upgrade.
You really won't lose anything at all so go right ahead and do not mind the others. Just do not delete the wp-content folder
The right question would be: What do I earn/gain?, as all this is about new features and improvements, not getting things worse.