How do I update Emacs to the latest version?
See Installing Emacs, and follow the instructions there for installation. Most files are placed in version-specific directories. Emacs 22.1, for instance, places files in /usr/local/share/emacs/22.1. Upgrading should overwrite only, /usr/local/bin/emacs (the Emacs binary) and documentation in /usr/local/info. Back up these files before you upgrade, and you shouldn’t have too much trouble.