For manual installers, it is set and forget. For automatic installers (SimpleScripts or Fantastico) it is often quite invisible.
wp-config.php
Unless something unexpected changes, WordPress 3 adds little different to the way wp-config.php works, so it is still vital to learn a couple of tweaks.
wp-config.php is well documented internally, and the installation instructions tell you what you need to change to make sure that your WordPress installation can see the database.
But, there are two situations that commonly occur in a standard WordPress installation that are far from ideal: memory exhausted messages and excessive page and post revisions.
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Tags: Install WordPress, WordPress setup
