node_revisions concept digest

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Can I assume that the node_revisions record with the latest timestamp is the most current?

No. Drupal core does this and it can cause problems: http://drupal.org/node/300714

Or should I assume that the node_revisions record with the largest vid is the most current?
No.

If neither of the prior two how can I tell which node_revisions record is the most current for a node?
By the value of vid in the node table.

What is the node_revisions.log field used for? Mine are always blank?
This is the value of the log field on the node edit form.

Where do I set revision tracking in the UI? Do I do it on a per content-type basis? Globally? Other?
It is configured on the content-type settings page.

And finally, is there anything else I should know about working with the node_revisions using raw SQL?
Probably. You should have a good understanding of the hook_nodeapi function if you are planning on modifying nodes and directly manipulating the node_revisions table.
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Q from MikeSchinkel - December 24, 2007 - 21:48
A by imrook - September 7, 2008 - 18:27
[ref] http://drupal.org/node/203697