Generally, newer BIOS will help in regard to newer hardware, i.e. say, a new HDD or new RAM running smoothly, quickening boot up times, etc... It isn't necessary, especially on a laptop, which isn't readily upgradeable, but it does help to a degree.
I couldn't get 4 sticks of ram running on my GA-EP45-UD3R until the F12 bios was released which listed "improved memory compatability". Now 4 sticks passes memtest with flying colors.