shouldn't /etc/gentoo-release contain something like "Gentoo default-x86-2004.2" (from /etc/make.profile ?) It now contains "Gentoo Base System version 1.5.2" (though I have baselayout 1.10.2)
no, you can change your profile at will ... `emerge info` will report profile information /etc/gentoo-release is tied into baselayout ... perhaps agriffis can comment on the numbering schema; it's always been different from the version you emerge ...