Adobe has released Lightroom 3 which is a major upgrade over version 2. It brings the same highly tuned RAW processing engine, a very capable noise reduction, the same lens correction filter that is in Photoshop CS5, and many more new features. Learn more about Lightroom 3 and download a 30 day free trial to see it first hand.
Upon start, Lightroom 3 wants to upgrade your older catalog. This may be a bit nerve wracking, but the program seems to make a copy of the LR 2 catalog leaving the old one intact. That said, I will suggest making a backup of your old catalog and previews if you want to be on the safe side.