EA lost the MLB license last year, which is why they released that piece of shit college baseball game that sold one copy (to me, coincidentally).
There are mods to bring the rosters and stuff up to date in MVP 05 - they work ok, but my game is more crashy now.
Unless you have a PS3 or 360 that's probably the best choice, honestly. The new versions for the PS2 and XBox are really just roster updates - all the new development went into the next-gen consoles. I'm still pissed they didn't release one for the Wii. That would have been the greatest game ever.