How to set up Minecraft Server with most recent update?

I just want to make a small 5 person server for my friends and I to play on. I've looked at some videos but they are not helping. Could someone give me a step by step instruction on making one? Also is the latest version 1.7.2 or 1.7.4? I'm confused.

Ok i can help you out here

1)Download Minecraft Server.Jar
Get It here:
https://s3.amazonaws.com/....1.7.4.exe

2)make a folder call something like minecraft on your desktop

3) put the minecraft server.jar in the folder and click on it (if it askes you something just click run)
it will make some more folder this is good.

4)then close or type stop on the console (the thing you just opened) after its made 7 more things in the minecraft server folder you made

5) edit the server note pad doc and the whitelist and ops you don't haft to do whitelist (in ops just put you name)

6)now run the server your done

7)if you want to play with friends that are not in your house you need to make it so they can go on it you can do this 2 ways 1 all get hammachi and make a network and uses that or port forward it if you need help ask me on that

If you need anymore help let me know by

Twitter: @LDWme

Emal: Lewis110@live.com

Or My Website: http://serverdevhelp.weebly.com/