iPhoto and iTunes
Apple just released an update to iPhoto, version 9.2.2. They also released iTunes 10.6. It looks like you should avoid them, based on reports from the Mac blogs. iTunes 10.6 is mainly to support HD movies from the iTunes Store, as well as the new iPad. These updates are available for both Snow Leopard 10.6.8 and Lion 10.7.3.
Some reports state that the installation fails, both via Software Update, as well as the version you download from Apple's site. They also cite an interaction between iTunes and iPhoto, requiring both be updated or iTunes can crash on startup.
If you followed my standard rule of waiting a week before accepting anything from Software Update, then you should be fine. Like their recent screwup with the Snow Leopard Security Update, which I wrote about last month, Apple should be updating the updaters with versions that don't cause so much trouble.
You can postpone these two indefinitely. However, any other update, such as an SMC Firmware Update for some laptops, and the Security Update should be performed.
Also, Safari now is up to 5.1.4. If you are using any version of Safari 5.1, you should run this update. If you are still on version 5.0.5, don't update it at all. I will let everyone know if Apple ever releases a version of 5.1 that is as stable as 5.0.5 is.
A Little Mac Humor
"Fans" of the Spinning Beach Ball of Death will get a needed laugh out of this short video that was taken at a recent TED talk.