I use Debian, which, while not the same as Ubuntu, has different releases. It is known for being stable, but very slow to release updates. Here is what I do:
Servers run the stable release. When a new stable release becomes officially stable, I am a big chicken and still wait a month or two to upgrade.
My desktop runs testing. I treat it as a rolling release, and always have fairly new, but very reliable software.
The laptop tends to have more issues with updates (wireless drivers and such) so it runs testing, but the named release. Once the release has been stable for a couple of months, about the time I update the servers, I update the laptop to the new testing.
Ubuntu users could do the same thing. Run the regular release for machines that it would be nice to have the newer software, and don't do a version upgrade the day it comes out, while using LTS for machines where less volatility is needed.