I managed to upgrade my blog to WordPress 2.3 without much complication. I even dared to perform the upgrade before doing a backup of the database, which is strictly not recommended to do so. There was a slight compatibility issue with the plug-in I installed since the previous version. Other than that, everything went smoothly.
The built-in tagging feature is pretty useful, but there is no tags management feature. Luckily, I found the Tag Managing Thing plug-in that allows me to edit and delete the tags.