Fredster, welcome to the forum.
I can't answer your questions as I have a WS1200-IP, but this is what I do regarding updates.
With any update, there is a risk of something going wrong. Most of the time it works flawlessly, but there is Murphy's law
I read what the update is for, then ask these two simple questions.
1. Does this update fix a problem that I have?
2. Does it provide any new features that I will use?
If the answer is no for both, I don't upgrade.
Hope this help