After looking at a lot for forums, Facebook and different sources I thought I would share what I have found. (I have yet to update my firmware as well) So there are positives and negatives (I will update this list as I find more) Pros: - People are reporting better range with the new firmware and new app. - The latest firmware resolves the issue of blury between colour modes (as said in the release notes). - The latest firmware which includes a new battery firmware, allows you to top the battery off to 100%. Where as before people had issues that it wouldn't charge above 96% - Rock solid flying if you calibrate all sensors after firmware update Cons: - There is a battery bug where if you discharge to below 10% and then proceed to normally charge it, it will show the led lights as high voltage until it charges for about 15minutes and then start charging normally. ( Click here for more info: [Bug] P4 intelligent flight battery firmware bug! ) - There is also a bug with app that when you go into flight simulator it records the flight in your flight logs as if you did a real flight. (Click here for more info: Facebook ) - All settings are erased when the new firmware is applied, and it appears that you will need to calibrate the IMU, Compass, VPS, and Collision Avoidance sensors, people have said they have had a rock stable flight after doing that. (better than any other flight) - Some people have said they still get blurryness on different colour modes, but a camera reset or full app install fixes it. - Some people have reported that the drop in altitude is worse on the new firmware. - Also some people have said that they have experienced worse range, but I am unsure at how true this is, as a lot of users have said they have had much better. Edit: - When using the colour mode D-Log, over exposure warning lines do not show correctly. Conclusion: So I am about 90% thinking that it is ok to update, majority of users are having better stable flying with this update. The good thing is you can revert back to v1.1.301 if you do have troubles. But the main thing is if you do upgrade, ensure you calibrate everything including the VPS and Collision avoidance sensors. There is a youtube video on how to do this (Link Youtube Link ) A side note, the DJI Assistant 2 software has been updated to v1.0.4, so make sure you use this version when doing upgrades or calibration and not an older version. I recommend you upgrade through the app on your tablet/phone and then use the DJI Assistant to calibrate the sensors.