I am sure there is a good reason for choosing Ruby 1.8.7-p* instead of 1.9.*, but I'd like to know that reason :)
The intent is to upgrade RailsInstaller to Ruby 1.9.2 definitely. For the first release, we went with 1.8.7 to maximize the likelihood of pleasant experiences.
I'd like an integration test suite around RailsInstaller for common use cases of Rails (and other common ecosystem tools, like git). That might go hand in hand with the promotion of ruby 1.9.2 on Windows.
I hope that this increases visibility on Windows so that gem maintainers will pay more attention to that audience when developing and improving their libraries.
Working on the 1.9.2 port, but it's just not that simple...