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Odd versions are unstable, even versions are stable. v0.2 and v0.4 are even/stable. v0.3 and v0.5 are odd/unstable. The next stable release will be v0.6. The stable branch takes bug fixes only - it does not change the JavaScript API, addon API, nor ABI (you don't have to rebuild modules after upgrading node with-in a stable branch).
What is the correct capitalization of Node.js?
The official name of Node is "Node". The unofficial name is "Node.js" to disambiguate it from other nodes.
What is an easy way to manage Node.js versions / installations?
Currently, by default v8 has a memory limit of 512mb on 32-bit systems, and 1gb on 64-bit systems. The can be raised by setting --max-old-space-size to a maximum of ~1gb (32-bit) and ~1.7gb (64-bit), but it is recommended that you split your single process into several workers if you are hitting memory limits.