Upgrading the bios is optional and not a big deal, but it may enable additional hardware features. I would upgrade, but that is entirely up to you.
Note the following happen when upgrading a bios
1. Screen flashes(this is supposed to happen and nothing to worry about)
2. Loud noises similar to running a cd/dvd occurs when flashing/upgrading(right before restarting which is normal)
3. Immediately shuts down and turns back on after a couple of seconds(again normal)
Don't be alarmed by the above as they are perfectly normal when upgrading the bios.