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jQuery Update now bundles jQuery Form Plugin v2.43 (12-MAR-2010), while jQuery Form Update development has ceased and it still ships with jQuery Form Plugin v2.16, 17-OCT-2008.
jQuery Update 6.x-2.x-dev also includes updated versions of jQuery and fartbastic;
jQuery Update 7.x-2.x-dev also bundles the latest jQuery UI;
Drupal 7 Core (alpha6) ships with jQuery Form Plugin v2.36 (07-NOV-2009);