I have been using the uClinux toolchain based on
binutils-2.10 and gcc-2.95.3). The web page currently says that gcc-2.95.2
and binutils-2.10.1 is the way to go. I go back and forth on toolchain
decisions "Latest and greatest" vs. "tried and true". I am inclined to lean
towards "tried and true" unless folks have strong suggestions otherwise.
With the upcoming beta we've been testing binutils 2.13.1, gdb 5.3 and gcc
3.2.1. It works fine. Admittedly it didn't till recently, but we've been
checking in the requisite fixes :-). With 2.0 beta the web pages will be
updated accordingly (along with many other changes!).