Using Visual Studio you are present with four levels, Major, Minor, Build and Revision. In the workplace for applications instead of games we only really ever used the first three, and the Build number was automated via Visual Studio, so you may get something like 1.2.1543 - it was most likely only of any real use to us when we were check what was on the server against what we have in source control/our pcs.
From a games perspective, I think seeing much more than 2 levels is a bit pointless from a users perspective. e.g;
Version 1.0 - ok, yep, get that, the first version…
Version 1.1 - w00p - a new version and it didn’t cost me anything, I feel fab
Version 2.0 - wowsers in my trousers would you look at all the new stuff in this major release!
Of course, if you are releasing very frequently, this may not work, as the version number can start to look a bit daft…
Version 1.96 - oh joy, they have change the text colour back to yellow from white, great…
Version 22.1 - really, you are on the 22nd major release of this application, really?!!?
I think it can lose it’s usefulness quite easily if you are not careful with your planning and releases.
Windows 3.1, 95, 97, ME, XP, Vista, 7, 8, 10 - waah?!