I've gone ahead and updated the site's software from 3.01 to 3.03. Here are some of the changes:

Improvements Since 3.0.1

• If attachments are in the file system, thumbnails will now be stored in the file system. Everyone who has thumbnails enabled needs, in the file system or in the database, has to rebuild Thumbnails from Update Counters->Rebuild Thumbnails after the 3.0.2 upgrade.
• Custom Profile fields (input, textarea) can now contain more than 250 characters.
• Viewing of hidden custom profile fields is now an usergroup permission. After the 3.0.2 upgrade, Admins and Super Moderators should have this permission enabled. You will need to enable it for any other groups.
• Better detection for Mac browsers specifically webkit based browsers such as Omniweb.
• A custom profile field can now be set to allow modification only at registration.
• New Reputation Usergroup Permissions (Can Leave Negative Feedback, Can Use Reputation, Can Hide Reputation, Can See Own Reputation)
• Two new functions in the counter's section: Remove Orphan Posts and Remove Orphan Threads
• A moderator log will now appear when you edit a thread. Also added logging for when a moderator edits a poll, adds an attachment and deletes an attachment.
• Optimization to attachment.php by removing one query.
• Optimization to "New Posts" by altering query to use the index already in place.
• Several PDA-specific enhancements to the archive.

There are also two unsupported improvements. If you wish to implement these, you will need to make minor code changes (at the least).

• Full-text searching for MySQL 4.0 users.
• Ability to use an external SMTP server (with username and password) instead of PHP's built-in mail() function.

Bugs Fixed Since 3.0.1

Some of the bugs fixed include:

• Archive now sorted oldest to newest to ensure that users will see the same page as the search engine did when the page was indexed. (View)
• Invalid censorship options could cause PHP errors to be displayed. (View)
• XSS issue. (View)
• Users pruned with lastvisit instead of last activity. (View)
• Content type not always detected properly. (View)
• Permission denied error could be displayed when enabling load limits. (View)
• PHP error message could be displayed when editing forums in the control panel. (View)
• URLs are no longer automatically parsed in certain BB codes. (View)
• Entering multiple emails that received notification of user registrations did not work. (View)
• Regular expression matching for custom profile fields did not work. (View)
• Birthday info not always saved on registration. (View)
• Smilies parsed in code/html/php tags in WYSIWYG editor. (View)
• Displaygroupid could not be changed in the CP. (View)
• Made vbstrtolower attempt to use multibyte string functions if available. (View)
• Extremely long (valid) email addresses were not accepted.. (View)
• FAQ variable names not limited to alphanumeric characters. (View)
• Word wrapping made more effective. (View)
• Various phrase and template problems. (See below for template changes.)

Bugs Fixed Since 3.0.2
Click here for a full list of bug fixes

• MySQL version not shown in ACP Quick Stats (View)
• SQL error when building attachment thumbnails (View)
• Removing Orphan posts fails (View)
• Last page of search in user has no navigation button (View)
• Mail Queue fails to work under some versions of Apache (View)
• Code / PHP / HTML should always be Left to Right (View)
• Showgroups links to wrong forum (View)
• 'Wrap x Tags' text hard coded in editor (View)
• vBulletin package contains redundant readme files (View)
• <select> elements in user profile fields moved for visual consistency (View)

disregard my pm!

Sounds good even though nothing jumps out to me as being very important.