News and INFOMinecraft will be updating soon to 1.3. It has some of the things they promised and more, but due to the complexity and pure monotony there will be no API, yet. So this means that with all the changes to Minecraft expect bukkit to take some time to update. Although I'm sure dinnerbone and crew will not disappoint.
In short do not update if you want to play on Land of Moore. Make sure to check the sidebar to find the latest version running on this server. Update is August 1st for Minecraft 1.3. You can find info on Minecraft versions HERE.