I'm in the early stages of a project which is being built using the PHP framework, CakePHP. Currently, CakePHP has a stable release (1.2.5), and there has just been released their first alpha of the next version (1.3.0). The next version adds a lot of features that I want for my project (mostly in the way of performance increases), so eventually I'd like to move to using that.
As I said, I'm in the early stages of my project, so by the time my project is ready to go live, I would imagine that Cake 1.3 would most likely be stable.
Though my situation relates to Cake, my question could apply equally to any platform and third-party tool: Should you develop on the cutting edge, in the hope that any instabilities will be worked out, or should you stick to the stable and well-documented versions?