openacs-core on cvs-head (aka 5.8 development) was tested with postgres 9.1. We are using OpenACS with 9.1 on production with the set of packages we are needing (100+ packages, many of these developed inhouse).
so, if you could provide patches / fixed update-scripts via the issue tracker, it would be great.
Our target for 5.8 is to get the recursive query processing in and to provide a 5.8 release rather soon.
Based on our current experiences i would still recommend 9.1 rather than 9.2 (but looking at the changes, 9.2 should work as well, but the thorough testing is missing - at least from our side).
-gustaf neumann