It's too early to tell whether or not there will be any issues related to this patch, since it only came out yesterday. However, nobody has yet reported any significant problems in implementing it, so it seems to be safe. And you can always just flash back to the factory firmware if you find that the patch is causing problems for you.
It should approximately double your ripping speed under DVD Decrypter. It would seem that this patch will turn the BenQ 1620 into a "ripping monster" that's perhaps faster than anything else currently out there. People are reporting rip times under 10 minutes for a full double-layer disc.