The revisions of letter-letter-number are codes which correspond to year-month-monthlyVersion. Each month resets the number. So II5 would be older than IK4 (as it's a later month) even though the number is higher.
However, as far as I'm aware you cannot directly compare versions between different handsets, the numbering on the i5700 is different to that of the i7500 (I think - not having owned a Spica I'm not 100% sure).
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