Here's the way to decide:
If you have Vista or see anything newer than XP in your future, upgrade to v1.02.
If you lean toward lean ROMs, upgrade to v1.02.
otherwise, stay w/ v1.00.
You can never flash a 2.xx bootloader because you have G3 flash chips in your phone. There isn't any significant difference to you between G3 and G4, so don't feel like you are missing anything.
I still have v1.00 on my apache