CodeBlocks is not following a traditional release cycle, it's more like a continuous delivery approach. At some random point in time someone increases the version number, creates all these packages (including the ones with a compiler which might even be harmful if that compiler gets installed in a private fashion, prevents you from using that compiler update infrastructure) and calls it release. These are just my observations, i dont want to hurt anyone if there is another approach
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Im not even using nightlies, i am building CodeBlocks myself. Usually trunk is in a usable state, check the log and don't create your own "release" when you spot dangerous changes that might cause issues. I am doing this not only with CodeBlocks but some other open source applications and even libraries i ship with our applications for many years, usually this works very well, only a few times i grabbed a bad revision that broke something