I installed SMS ITMU ver 2 a couple of months ago but was pulled off to other "projects" I personally call them fires. Anywho, I began to start looking at implementing this accross our network. But I am now reading that ver 2 is broke? Should I go ahead and install 3? and if I do / do I need to upgrade to from SMS 2003 (SP2) to (SP3)?

Thanks in advance. 

yes .... you should go for ITMU revision 3... no need to go for upgrade to SP3....u can run ITMU v3 with SMS SP2

http://technet.microsoft.com/en-us/sms/bb676783.aspx

I think in the long run it is better to upgrade to SP3. Only because I would have to update all the advanced clients to ITMU anyway. If I am going to do that then I might aswell upgrade to SP3. I read in the setup notes that

 "SMS 2003 SP3 includes an updated version of the Inventory Tool for Microsoft Updates (ITMU), with hotfixes and updates to the product since its initial release. "

Does that mean that SP3 has ITMU3? Or should I just install (update.exe from the SP3 setup) and go back and install ITMU3 after SP3 is up?

Thanks again,