Hey RGerry, absolutely, all the firmware upgrades for ADA MP1/2 are worth doing as they each fix/improve different things, e.g. the last MP2 EPROM upgrade fixed the patch switching speed, it was noticeably sluggish (particularly compared to MP1 I'd come from), now much better.
MP1 upgrades all came with additional functionality, the last one has all the upgrades to that time (now 2.05). I don't know these MP1 upgrades in detail, MJMP or others will no doubt fill the gap for us here. Didn't some limited midi continuous control (CC) come in along the way ?
And they are easy to do and not to expensive (http://www.marshalljmpmodshop.net/miscellaneous_parts_and_replacement_tubes.htm). To me, the EPROM upgrade to the latest available is a no brainer, do it if you can.