I have released MySQLdb-1.1.5. I hope that this will become the final 1.2.0 in a week or two, barring any new bugs which may crop up. Report bugs to the bug tracker (https://sourceforge.net/tracker/?group_id=22307&atid=374932).
In it's current form, 1.1.5 probably requires at least Python-2.3. I do all my testing with Python-2.3, so it might work with 2.2. If it doesn't presently, could probably make it work without too much effort. I can't make it work for earlier versions because I'm using new-style classes. If you need MySQLdb to work for older versions (1.5.2 through 2.1.x), use the 1.0.x series.
I'm also testing against MySQL-4.1.4, but I still intend to support at least 4.0.x, and can probably still support 3.23.x in the 1.2.x series, so if you find some compatibility problem with these older versions of MySQL, report it as a bug.
I have read 1.1.x does fix some problems encountered with things like mod_python, so try out 1.1.5 if at all possible. I am pretty confident that this is the most bug-free version around.
If you have some opinion about support Python-2.2, or some other non-bug issue, please discuss it here.