Firmware info?

I have a GSA 4160B and I would like to know how I can check which firmware I have with my drive and how to know if it is the latest.
P.S. Sorry for the real basic question, but im a novice to this.

Just load up nero select from Recorder(ALT-R) then choose recorder and highlight the 4160B and it will give the firmware number under that information screen. Or you can use Nero Infotool.

So that would be the VA 301 reference?

Seems V 303 is the latest for your drive

Go to this site, select device drive then select DVD-ROM(Writer) and it will give a page with all the firmwares.

Can upgrading your firmware actually give some negative responses? What changes is it likley to give? Good and negative?

Firmware updates usually just add media compatiblity and sometimes better burning quality since LG dont give a clue whats update i cant say that you will even notice a difference or not.