They have put out a ton of errata that has modified the rules. In doing so they have not removed any feat, powers, or anything else from the game. Which means everything in those rulebooks you won still applies. If you happen to have their new red box with the essentials stuff in it, you're in luck since those include most of the changes already.
Assuming you have their older books then you still aren't missing much. The overwhelming majority of their changes have been tweaks to various powers. Nothing too game changing really. All of the groups I've played in thus far have largely ignored those changes and just went by what the books say. The most reliable place to see up to date rules is their online compendium, that requires a D&DI subscription. You can also get a look at their changes on the official D&D updates page.
Aside from that use whatever materials you like. All of the books they've put out for D&D 4E work together, so you can mix and match them in any way you like. The biggest change from their original books (Player's Handbook 1, 2, and 3) and the essentials line is a philosophy in how the classes should work. The core rules and mechanics are all still the same. This makes the books a little more cohesive than all the 3.5 stuff, but there's still a distinct difference in style between some of them.
The bottom line, treat it like 3.5: If you like the book use it; if you don't like the book or its not covered in a book make it up.






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