It is always important to stay up to date has new releases fix bugs and sometimes security holes when they apper. I belive just about any upgrade is important if there is a new stable release that has been proven to work (in other words I wait a few days).
Upgrading is not a painful process, if you hack you can use file compare programs or re-hack the php code. It is as simple as uploading the new php files and running /install/upgrade.php.
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