If your system is like mine you have at least a few Java updates installed on your system.
Apparently the installer for the latest version does not removed the previous version, so you can end up using a substantial amount of disk space if you leave all the updates installed.
Usually what I do is install the latest version and then go into the add/remove programs and uninstall the previous versions.
Right now the only version which appears to be necessary is:
Java(TM) 6 Udpate 14
Any other versions of Java can be deleted.