As usual I immediately upgraded my version of WordPress. The upgrade is now as simple as Clicking an upgrade button and ta-da!
If you want to upgrade your version of WordPress 2.7 to 2.7.1, then just open your WordPress admin section. Under the “Tools” menu you will find an “Upgrade” option. Click “Upgrade” and on the next page just click to automatically upgrade!
It is still suggested that you backup your database, however, I ran into no problems during my upgrade process and the entire upgrade took approximately 5 seconds.
For those of you using a version of WordPress prior to 2.7, you will not have the luxury of a built-in automatic update, but you can still use a plugin to automatically upgrade for you. Just make sure to deactivate the plugin later if you intend to use the built-in upgrade tool in the future, otherwise you will see a message similar to the following when attempting to upgrade:
Fatal error: Cannot redeclare class pclzip in /../wp-admin/includes/class-pclzip.php on line 171
Enjoy the easy upgrade tool and WordPress 2.7.1!