My question is, what other advantages would it give me over the stock firmware?
I don't vape TC mode, but the reason I use AF on my Pico 75W and Pico Mega mods is becuase it adds a preheat (wattage boost) function, which is not available on the stock firmware for those mods.
There are a lot of other advantages and features it adds that you may or may not use. Best thing to do IMHO is to just install it and check it out. If you don't like it, just reinstall
eleaf's firmware.
Do I need to continually update it?
For me, the answer is no. But if you use TC then maybe.
Is there a big risk of bricking the mod?
"Big" risk? No. But there is always a small risk of bricking a mod when you flash firmware. Follow instructions and you will be fine. Also, like I told you in an other thread, make sure you download the stock firmware from Eleaf before you do anything.