When I installed gentoo, I used the 2004.2 Universal CD (although I only used the livecd portion of it). What is the difference between 2004.2 & subsequent versions, and could I achive the same updates thru the internet and portage?
One thing to remember when using Gentoo are there aren't new "versions" of the OS that you need to install to stay current. The live cds are for installing Gentoo on a new system. This is especially true when doing a Stage 1 install as you said you did. You'll always be fully up to date as long as you sync portage and update that way. In other words there is absolutely no need to reinstall with a new live cd just to keep your system up to date.
The differences between the live cd versions can vary between releases but usually they contain major package updates, layout differences, new drivers, stability improvements, etc. One example is the old live cds used to only have 2.4 kernels, but the newer ones also contain 2.6 kernels if I remember correctly. Also, major packages are things such as GCC, GlibC, etc. These updates often make getting a freshly installed system up to date easier and installing easier, that's why they're released.
Running "emerge --sync, emerge --upgrade world, emerge --upgrade --deep world" keeps your system up to date. (using --ask --verbose flags is recommended BTW )
Every now and then, a new system-profile will be released. Think of it as some kind of "profile policy" (like a change in the gcc-version, or using udev instead of devfs). You need to replace the symlink in /etc/make.profile to use a new system profile. If your system profile is out ot date, portage will complain automatically and point you at a site explaining the actions to take to upgrade your system profile.
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