Hello Josh,
Whether to update or not is very much a personal decision. I personally updated to iOS 7.1 and have no regrets. However, there are some bugs that you might wish to know about before updating.
To help inform your decision as to whether to update your devices to iOS 7.1, you may wish to read our list of accessibility improvements and bugs for iOS 7.1. It is available at http://www.applevis.com/blog/apple/whats-new-and-changed-blind-and-low-vision-users-ios-71.
Please note that if you are jailbroaken or plan on jailbreaking, do not update to iOS 7.1, because iOS 7.1 patches the iOS 7 jailbreak. So you can not jailbreak on iOS 7.1. Just wait until they update the jailbreak to work with iOS 7.1. If you are not jailbroaken and do not plan on jailbreaking, you do not need to worry about this.
Like Michael said, it is a personal choice but I like it so far. It gets rid of that bug where VO reads "screen locked" twice which was very annoying when I was listening to music.
It looks like I'll be staying with iOS 7.0.6 for now, because of the second language and language detection bugs in iOS 7.1, which are not present in 7.0.6. I plan on studying a Bible which is in both Greek and English, and I need VoiceOver to read the Greek when it detects it, like it does in 7.0.6. Hopefully they fix this serious accessibility issue in the next update.
Comments
VoiceOver Fixes and Bugs List
not if you jailbreak
my opinion
My opinion
IiOS7.1
Second language and language detection