First off, what stepping Phenom do you have? Are you effected by the TLB bug? If you're already patched for it, it's probably wise NOT to mess with the BIOS.
Second, last I checked, the Phenom will only work on AM2+ spec'd sockets. If it wasn't already updated, you wouldn't be able to POST at all because it wouldn't recognize the AM2+ processor. I don't know much about this particular board, but it will autodetect what processor you have installed and switch between AM2 / AM2+ accordingly. Check with CPUZ and see what socket the motherboard is reporting.
Also, a point related to the first, if your BIOS is patched for the TLB bug, you're already suffering a 10% performance hit. There is nothing you can do about this. x.x
Unless you're positive you're going to see decent performance gains from this, I would advise against it. Any small thing that goes wrong will brick your motherboard.
Good luck!
By the way, I'm an Intel fan

<snuggles his Core 2>