At home, I've installed every version of OSX except for the Public Beta (yes, EVERY one--10.0 through 10.4) literally on release day.
But for work computers (or users who aren't anxious to get used to new features at the possible cost of some pain), I never move to a new OS until I'm confited that it's stable enough "for production". For 10.4, that was around .3 (it was unusually rough around the edges for a major release--got rushed out the door, I think), I don't remember on 10.3, and 10.1 and 10.2 were both pretty much on launch day mostly because they were such drastic improvements over their predecessors.
So I wouldn't be terribly afraid of it, but if you're not determined to be bleeding edge, wating to see how things look from the sidelines and jumpin in at .1 or .2 (or whenever) is probably wise.