If the thread is marked unread, it will go to the latest unread post when you click on the thread title.
Where this goes awry, in my experience, is if moderators/users deleted the post that the forum thinks is the first unread message. It will usually shunt me to the OP then.
If the thread is marked read, clicking the thread title goes to the OP. If you want to go to the last post, click on the timestamp at the very right where the latest reply is shown. (Not sure if this has changed between v1 and v2, but this does not work if you aren't signed in.)