Do you have a dual bios rig? That takes all the danger out of flashing. The newer P4 Gigabyte boards really are a breeze to flash compared to the older PIII's. I have flashed my board 4 times experimenting with the different releases.
Go to the Gigabyte website. They list details on the fixes with each new bios. Some flashes unlock new multipliers or voltage options but on the other hand, you may not need an updated bios.
If you do not have dual bios, an and not comfortable with flashing, don't waste your time.