I used it to fix my Wi Fi issue as sometimes some new hardware won't be detected by old kernel.Other than hardware driver update I don't find the need to upgrade kernel.I created a shell script that searches for more recent kernel versions and shows them as options to be installed.You can give it a try, it's on github, please be sure to read the README.My issue of a black screen when resuming from standby has also disappeared.Though I personally haven't had issues from using newer kernels, you will find some people who are strongly opposed to doing this.Currently I'm running Linux-3.0 and I want to update it to Linux-3.3.1 the latest stable kernel release as mentioned at
Though not recommended by some, you can often run official kernels from later versions of Ubuntu without issues.
New kernels do have security and slight performance upgrade but also have tendency to break things like your VM.
Another option is to try customized and optimized builds, such as this i3/i5/i7 optimized 3.2.1 kernel for Ubuntu: Duo Petal Flower, My Experiments with Linux - 3.2.1 kernel He also has Intel atom optimized builds which can work quite well if you're trying to squeeze every last ounce of performance out of a netbook.
I used to upgrade the hard way like some of the answers here suggest but I found this is an easier way. There are reasons why you want to install the latest mainline kernel: Voila!
- you are running the latest kernel when the first option in grub boot menu is selected.