"Versioned" records

[Michael Powell]

Hello,

I'm considering whether a Version column is appropriate, how to use
it. Do all the records get loaded into cache, first or second level
memory? Or just the latest one?

I have a use case where a parent object / collection of items can be
versioned. "Prior versions" of the object can be assigned to historic
entities, and I should be able to see the most recent version.

Perhaps Version isn't the right approach, but I'm trying to find some
clarification on just what exactly Version potentially buys me.

Regards,

Michael Powell