Latest Release - June 25th, 2013
Elgg 1.8.16 is the latest and recommended version of Elgg.
Latest 1.7 release - March 14th, 2013
Elgg 1.7.19 includes important bugfixes and security updates.
It is the recommended release if using Elgg 1.7.
If you are looking for somewhere to host your Elgg powered network, we are putting together a list of providers who have added Elgg hosting to their services.
If you're a developer and want the latest code you can grab the latest work in progress through GitHub: