Typically when it comes to bios updates I go by "If it aint broke, dont fix it"
So if your not having any problems I would leave well enough alone.
IF you are having DX11 issues see this thread here...
I have read in many places that nvidia cards are better suited to use with the catleap monitors. The 670 should clock well too. The brand depends on your tastes but the MSI is nice along with the Gigabyte windforce and Asus TOP 670's.
yup or anywhere you have a spot for a double rad. if you put it at the top and have it blow air out of the case, it does double duty as it exhausts hot air from your case and cools the cpu at the same time.