Eh, 61388.... I've never had any issues with the Content Manager, once you get to know it. It has never died on me unexpectedly (That is to say, if the power goes out, or something else that is likely to cause TADDAEMON to be interrupted, expect the DBR, but thats true for every version of TS). Depending on how Vern meant "Lock up", I have had it stop and think for up to 20-30 seconds (This is an extreme, usually when this happens for me, which is rare its much less), but as long as you don't load up the cache by continually clicking on things it won't Grey out. I have not had it randomly die on me. Personally I found 61388 more stable then 49922. But I only used 49922 for a couple of months.
Doing as JCitron et al have suggested above will alleviate the Content Corruption that can occur with updating.
After that, whats left to waffle about? Do you want to the new content or not? This is no less then the 20th or such post of this nature I've come accross in the last, IDK 2 years? And they almost always start off the same (Amazingly enough they tend to end about the same as well).... We can't make up your mind for you. Back your stuff up if you try, or don't try at all. What do you want to do? In less then a month T:ANE release will come along and add another level of complexity to this whole debate, and sometime in the future after that the DLS will no longer support Trainz Build's below 3.9 (This will be a few years I imagine). T:ANE won't be the last N3V product in the Trainz Franchise, and geez, it might even have half a dozen Service Patches to be released during its active life cycle as well. The pack has upgraded.... The pack will upgrade again, and again after that. Are you gonna run with the Pack? Or go find your own niche somewhere like many of the TPR fans have?
Good Luck,
Falcus