There is a similar update for the VF160, that I have chosen not to install. The reason being that the new updates do not address any known bugs, and they only add features I don't need. So for me it's a case of "if it ain't broke, don't fix it."
On the other hand, 2.01 enables the VF's to be used as CD players, plus there are a few other additional features you may want.
One thing of note. With the new version, when you burn several songs onto a CD, there is no longer an automatic 2-sec. space put in between songs. So you have to add silence at the end of a track if you want the space.