The latest patch is 3.17.
You could also take this further and create your mod based on
WoC which allows for an even more flexible and modular format.
As cool3a2 said, modular is easier as you do not overwrite the existing definitions, you just add new ones. This is true as long as you introduce new civs / leaders / units. There are some limits however, technologies for example are not modular as are some other files, and when you want to change an existing definition you still will have to overwrite that.
WoC takes it further, for one it manages to make things like technologies modular as well (so you do not overwrite all existing definitions) and it also introduces 'partial' definitions (for lackof a better word), so when changing a unit, you only chnage that part of its definition you want to change without overwriting the rest. Thus any changes to the rest due to a new patch would still get updated.
I prefer that format, the 'downside' is that you then are tied to the WoC environment, most notably the dll. Whether you want that is up for you to decide.
As long as you 'just' add new civs there will be almost no difference between both formats (the regular modular format would work with WoC too, it does not adhere to the rules if WoC however, so it should be slightly changed for the added flexibility).