To my way of thinking the risk/benefit is strongly negative:
RISK: A "bricked" multi-$100 piece of gear, and then having to deal with an intransigent, faceless, soul-less multi-national corp. (Witness the OP's account.) 
BENEFIT: Fixing some problem that doesn't affect me, or adding some feature I don't use or need.
I happen to agree with Richard on updating issue - update risk is almost always much greater than potential benefit.
What could you gain with a firmware/software update?
1) some bragging rights (I think this is a main motivator for some folks, I don't care)
2) bug fixes
3) additional features
4) better performance (faster/less power - yes, this sometimes happen)
What could you lose with a firmware/software update? What could go wrong?
1) lose time - it depends, sometimes it is very messy and time consuming. Include time of non functioning device.
2) lose money - sometimes you need to buy new device.
3) lose nerves and sanity - most of the cases, of course.
4) device doesn't work at all (complete bricking)
5) device doesn't work at all but is fixable to a known state (complete bricking with a sign of hope)
6) device lose compatibility with your PC (yes, this happened several times to me with USB WiMax sticks. Works fine till update then just crashes. Do you want to risk losing the internet?)
7) device works worse (less features) but cannot be downgraded to older version
8 ) device works worse (less features) but can be downgraded to older version
9) device works the same but cannot be downgraded to older version - why? This is annoying.
Personally, I take SW/FW updates seriously and use this approach to limit the risk:
1) for serious equipment (big $ or that is critical for everyday business) I try no to update it. Unless update offer some very important functionality or bug fixes.
2) for semi-serious equipment (mid $, rarely used, not that critical) I try to ensure in advance that update is OK - by looking for other users experience with new update. Don't rush update, there will be less tears in the long run.
3) for cheap/don't care equipment, some SW drivers I update them regularly because I KNOW that screwing up update doesn't have serious consequences. I like to keep my PC compatible with newest flash/video/etc. drivers and codecs.
If the equipment works well, why do you want to risk that? Think about reliability for a sec.
I am not against updating in general, but I think that you have to consider the risk each time for specific case. YMMV of course.