thats not an update, that will the base MinGW installation.
i used to have my GCC at 3.3.1. if someone wont provide you with a solution then ill try and help later (im doing something for my brother for now).
i dont know if you already figured it out but here are the files to update GCC to version 3.3.1
gcc-core-3.3.1-20030804-1.tar.gz
gcc-g++-3.3.1-20030804-1.tar.gz
gcc-g77-3.3.1-20030804-1.tar.gz
gcc-objc-3.3.1-20030804-1.tar.gz
be aware that i dont have a clue if theres a redundant entry in there or if the newer ones are working (if there are newer ones). it used to work on my end before though the only reason i stopped using it is because the NeoPCM2 (SNK) code wont work with it.
also, i dont know if updating binutils can help (updating it screw up my old compiler setup) but youre better off getting it just incase.