What difference do the small point releases really make? Mostly it's just bug fixes, new languages, or adding support for hardware on new variants (CDMA, LTE, etc) that were not present on the initial version of the hardware. If you are not experiencing any particular bug it's likely the only point in upgrading to a slightly newer point release will be to satisfy your obsessive compulsive desires to be on the very latest possible version.
The question is, if you put a phone with the new and older point releases side by side, could you tell which one was which without checking the version screen or being told about one particular revised feature to look out for? If the differences are so minor that this kind of "blind" test would show the update to be practically indistinguishable from the original version then it's not going to be worth a large effort to flash the phone with a completely different bootloader/ROM.
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What difference do the small point releases really make? Mostly it's just bug fixes, new languages, or adding support for hardware on new variants (CDMA, LTE, etc) that were not present on the initial version of the hardware.
I'd have to dig up the original developer website but the list of bug fixes and enhancements for 4.0.3 was pretty significant. Google was calling 4.0.3 their "base version" of the software.
Plus one of the features that attracted a lot of people to an Android / Google phone is that you would get timely software updates / fixes.
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