Is it possible to set a limit on the amount of versions a list retains (e.g. 5 versions) while always keeping the first, initial version? For example, could my version history look like this: Version 10 Version 9 Version 8 Version 7 Version 1 My goal is to capture recent versions of the item and always have a copy of the original, but I don't want every version. The list items are tasks that are updated frequently so it wouldn't be hard to have hundreds of unnessary versions taking up space that could be put to better use.

Not out-of-the-box. SP 2010 "FAQ" (mainly useful links): http://wssv4faq.mindsharp.com/default.aspx WSS3/MOSS FAQ (FAQ and Links) http://wssv3faq.mindsharp.com/default.aspx Both also have links to extensive book lists and to (free) on-line chapters