I certainly agree with what most posters say: For a new install, pick the newest stable version (here: SQL 2008). In general, you can expect it to be a better product. That's the point of new versions, no?
For existing installations, things are different - but I don't entirely agree with the 'no reason to upgrade until you have to' policy.
Most databases have long life expectancies. SQL versions grow old and underfeatured, and eventually, they get harder to support because fewer people use them and professionals actually forget the specifics after years working with newer versions. Development is harder and more expensive. And in the end, official support ends, of course.
In the long run, one will have to upgrade eventually anyway. The question then becomes one of cost and benefit: When will an upgrade cost the least and benefit the most? Sooner? Or later?