I just installed the latest version of Magento today do I still need to patch? I see the Patch warning in the Dashboard. Magento ver. 184.108.40.206.
If you're running 220.127.116.11, 1533 should be included in the codebase. You WILL have to apply 5344.
Anything previous to 18.104.22.168, you will need to apply 1533
If you dont have any of patch applies you need to do it.
Yes, you need to apply the patch because the version you have installed doesn't contain the patches and your website is vulnerable to the hackers.
And Magento 1.9.2 will be available to download in next few weeks which will be likely to be patched incase you want to wait.