I am working with the development release, without any serious problems. But if I had to choose, I would do it in the following way:
If you have an exisiting OJS (stable) stick with that. Don't upgrade until 2.3.X is stable. Then and only then, make the jump by creating a parallel version 2.3.X to ensure the upgrade was successful before going live.
If you are starting a new installation of OJS from scratch, I recommend getting on board with 2.3 and then you only have to deal with minor upgrades.
If you are going to do some significant hacking of the core template files, definately use the 2.3.X version because there are major changes in the organisation of files there, and an upgrade would be a nightmare in terms of the template files, many of which have been relocated to a new location: /lib/pkp/templates. Others have not. And if you are doing significant hacking, then the bugs won't bother you because you are already hacking away in php!