I have this board and have flashed my bios several times without a problem and once with a big problem.
Many of the bios fixes are sort of cosmetic, in that they do not really improve the way the board operates. They might add new cpus to the list that they recognize. But sometimes flashing is really helpful. Which version are you using?
If you elect to flash, my advice would be to go about it the old fashioned way and use a floppy drive. The newer windows based flash proceedures can cause problems.
I have an MSI K8N Neo4 Platinum SLI and the only reason that I have updated my BIOS is because I had to because of a major incompatibility of the Creative X-Fi with nForce4 chipsets. If you don't have any problems with your current BIOS I'd leave it as is. A bad BIOS flash can fry your mobo. However, when I updated my board I got an option for an extra .493V for my CPU which was pretty nice. If you don't overclock though, and you aren't having any problems seriously don't even worry about it.