If you are trying to stay secure then the most up to date vBulletin 4 version but there is hackers constantly looking to exploit vBulletin 4. If you really want to go for a good design then vBulletin 3 is your best choice. Also if you get vBulletin 3.8.7 PL3 then just patch all the common exploits then I doubt hackers will be looking to find any more any time soon. Also with vBulletin 5 in the making I would recommend vBulletin 3 then vBulletin 5 around a month after it is released and bugs have been fixed.
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