If the site was upgraded to a newer version, the home page as it is now would no longer be there. It would look like when you click on the "Forum" button.
The Photo Gallery might disappear as the company that wrote that program no longer exists and there would be no way to make it compatible with the newer forum versions. (same thing happened to the old Ad Board)
The Garage might not update along with other added on features.
So yes, it would be great to update but be aware of the losses.