Still using 14.2 since I got the device in Dec 2009 - never updated, never needed to. I detest ADE so read only in FB2 format, which I update with the wrist page-turn FBReader app (0.9.2) - works like a dream.
I have had 2-3 freezes since Dec 2009, requiring a hard reset (remove battery and press the button). Other than that, never had a problem - the device works superbly!
I usually update firmware on my 'toys' quite soon after updates come out, but I have hesitated with this because it works so well for me. If it ain't broke, don't fix it! I'll stick with 14.2 until I'm forced to upgrade!