Should I update my iPhone 4 to the latest iOS (6.1?)?

I have an iPhone 4 and am running 5.1.1. I usually get the very latest software but I had an issue with my 3G when I upgraded to 4.0, so I am hesitant this time. Should I upgrade to 6.1 now? I heard there could be SIGNIFICANT loss in battery life. Does this occur often? Any other problems I should be worried about, or have they worked everything out?
Thoughts?

Take notice this update can take a long time to process. I have an iPhone 4 and the download was a breeze but the update took over 30 minutes.
At least twice there was a block of time of almost 10 minutes in length where it appeared the phone had just frozen. There was the white Apple icon and a progress bar that had absolutely no progress on it for 10 minutes straight.
The temptation to unplug it and restart the process is strong. Resist it.
This update involves updating your firmware. If you unplug the phone in the middle of that you might have a brick on your hands.
This could very well be the problem several people are experiencing when they loose all their contacts etc. Do not unplug the phone until the process is totally finished.
You will know it is finished when your phone restarts with a screen that has a very large iOS6.

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