Update to Squash version 3.4?

[TJ]

Watching the ubuntu-server list I saw an exchange about squashfs export
being disabled and therefore not available for NFS.

Phillip Lougher reported it is due to Intrepid and now Jaunty being
based on an old version of Squash (v3.3 - supports up to v2.5.24)
instead of version 3.4 (released 26th August 2008) which supports
v2.6.25 and later.

I wonder if this is something we should be investigating?

https://lists.ubuntu.com/archives/ubuntu-server/2009-March/002705.html