That would be a good idea.
RPM is generally smart enough to know whether the version you have is sufficient or not, however package authors sometimes aren't. Also, just because you have a higher version number doesn't necessarily imply the packages are compatable, this isn't Windows and stuff sometimes breaks backwards compatability.
But yes, redhat does suck at dependancy management. Linux sucks at it in general really, only Debian doesn't, but that's often out of date and Debian has other issues anyway.