Having recently upgraded my laptop to a new spanky Hitatchi 7K320, I've had the opportunity to build my Ruby development platform from scratch (and hopefully jettison some unwanted cruft) as well as relearn the in's and out's of Ruby on OS X. A clean install provides you with ruby 1.8.4 as well as an older rails 1.1.2. The challenge is to get the latest and greatest. With that in mind, I've outline the steps that I need to follow to get there:

# sudo gem update --system
# sudo gem update

Instead of the cumbersome update of individual components, a simple update will catch all the necessary updates and bring your system up to speed (rails 2.2.0).

Now on to see if installing PostgreSQL is any easier ....