LG7100 firmware

[omar121212]

Hi I have recently bought a LG 7100 on orange and have read the posts about unlocking it which requires flashing the phone. I have firmware v104 Oct 14th 2003. What are the advantages of upgrading the firmware apart from unlocking it to all networks are there any new functions in the latest firmware?? Also by flashing it am i risking losing my phone if i mess it up? what are the risks involved?

Thanks in advance Omar :)