I have an iphone 4S model with IOS 7.1.2.  Do I need to download IOS v8.0?

I have an iphone 4S model with IOS 7.1.2.  Do I need to download IOS v8.0?

Craig,
Your analogy is excellent! Perfectly captures the opinion I have heard from many. The reason that I have encouraged you to update is because really I, personally, have never experienced an issue with an update, and neither has my signifiant other. Call us lucky! I will not lie to you and say that that means that all updates are going to flawless -- far from it. Many people, as you described, find themselves in the exact situation described by your analogy, and they take to the internet to describe and outline these problems. It is unfortunate that iOS 8 has been such a buggy release for so many, and disheartening that Apple has not yet found a solution for some of these major bugs.
I do ask you to remember though that most of what you find when looking for opinions on iOS 8 will be people having problems with their device -- those whose update went through perfectly have no reason to question it, and thus it can make it seem like everyone writing on iOS 8 is having a problem. There is most definitely a large amount of people with problems after the update, but most likely an equally large amount of people who did not have problems and simply didn't post about it.
My significant other is not a heavy user. She uses her phone an average amount, but she most definitely does not rely on it as much as you have outlined above. I do not want to deceive you into thinking that just because she had no problems that means that you will not encounter any either. To answer your question, she updated about a week after each release of iOS 8 (iOS 8.1, iOS 8.1.2, etc.)
I also do not want you to think that I am a completely neutral party either. I am a fan of Apple, I will admit to that, but trust that I try to speak from as unbiased a position as I possibly can.
As far as your concerns with Apple go, I hear you. Many people would agree with you. Apple markets itself with the concept of flawlessly functioning devices, and that means that for some, when issues do occur, it is even more than just a bug because they bought the device on the promise of it flawlessly functioning. Yes, the functioning factor is part of the reason behind the higher prices of Apple products, but remember you also get a one year hardware warranty and over the phone assistance, access to the Apple Store and Genius Bar (both of which have excellent customer service, a fact that is widely agreed upon), as well as features such as iCloud storage. Widespread bugs like the ones that have occurred with iOS 8 are uncharacteristic of Apple, but in the end they will make mistakes, it is how they fix them that characterizes the company.
From everything that you have stated, here is my solution for you: If your phone works right now, it works. It will continue to work if you do not update, that is guaranteed. What is not guaranteed is that if you update, the phone will function even better. Both you and I are aware that iOS 8 has caused just as many issues as it has resolved -- updating here is a gamble, if you rely on your phone as much as I am thinking you do, it is probably better to take the safer route that guarantees the phone will work. Keep in mind, iOS 8.2 is right around the corner. More bug fixes may be introduced, and that may be a better time to update.
You bring up some excellent points. In the end, this decision is all up to you. I'm just a guy on the internet with some strong opinions!
Nick.

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