I was getting the unresolved dependencies like the question here.
Getting org.scala-tools.sbt sbt_2.9.1 0.7.7 ...
::::::::::::::::::::::::::::::
While sbt-launch.jar makes an attempt to download and use the version of sbt specified in the project's project/build.properties, they must be compiled with matching versions of Scala. I think sbt 0.7.7 was compiled with Scala 2.7, but the most recent versions of sbt are compiled with Scala 2.9.
Most folks now just use a version of sbt-launch.jar that matches the version specified in project/build.properties. If you're running on Linux, OS X, or pretty anything that can run a Bash script, I highly recommend the launch script from sbt-extras. It will automagically use the version of sbt-launch.jar according to what's specified in project/build.properties, and gives some other handy command line parameters.
If that doesn't work for you, I think your best bet is different launch scripts to launch the different minor versions of sbt. Such as sbt7, sbt10 and sbt11, which launch 0.7.7, 0.10.1 and 0.11.2, respectively.