No need to fear. Short answer:
$ sudo apt-get install python-setuptools # install easy_install & other goodies
$ sudo easy_install -U nltk # "-U" stands for upgrade
Long answer:
Python doesn't really support install/uninstall. It's a bit of a fallacy. Python has something closer to found/not found. This means that if there is a package on the Python path, then it is "installed". In Linux, install/uninstall can be as simple as creating and removing a symbolic links.
By convention, Linux distributions hold version numbers of packages in their archives fixed unless there are stability or security concerns.* AFAIK Debian holds this policy very strong, and will only provide security updates for packages, which means the version available via apt-get is often out of date. Ubuntu is basically Debian unstable, which means that few Ubuntu ppackages are not updated. Therefore, Lucid Lynx had NLTK version 2.08b at "package freeze", it will never upgrade.
The advantage of keeping version numbers fixed is stability. Fixes can be worked on if new features are not being worked on. This is why you will hear the term "package maintainer" used in the Linux world. Their job is to make the system more secure, but not build new features. However, when you want the latest software - you need to retrieve it from source.
In terms of Python, there are two tools that make this very easy: easy_install & pip. Pip is better, because it supports virtual Python environments. It also supports downloaded the latest sources from svn, hg, git & bzr, rather than relying on what is currently in Python. However, I haven't been able to install NLTK via pip and it's not really necessary, so haven't given you those instructions. Virtual environments make things easier for software developers that will be moving their work to a server somewhere. They replicate what it's like to be in a completely new computer. For people using NLTK, that's not really important.
There's a lot of assumed knowledge in that long answer. I hope it's comprehensible. If you would like any more information, do ask.
Tim.
* There are alternatives. If you would like a Linux distro that has a continually rolling release cycle for all of its packages, consider Arch Linux.