Does anyone know the benefits of the new bios updates for the Abit NF7-S rev. 2? what did Abit correct and improve?

Don't even ask! It might have some minor improvement, but it might also have a deadly bug. If your system works ok now, it's better to let well enough alone.

i recently flashed mine up to the most recent one and it worked fine. i imagine the difference may be stuff like stability etc..not too sure. i probably won't be doing it again as i am always reading about how it goes wrong and they are then stuck with a duff mobo. AMD Athlon 2500 @ 3200+ Abit NF7-S v2.0 512MB (2x256) matched pair Corsair XMS PC3200 DDR400 in dual channel Sapphire ATI Radeon 9800 pro 128MB Maxtor Diamondmax 80Gig HD ATA133

I always flash to the latest available BIOS, whether it needs it for a particular reason or not...you can always reflash back to the original if need be. It's a very simple process, but many people fear it because they hear stories about bad flashes completely trashing boards. It's not the BIOS that ruins the board, it's the person who performs the flash incorrectly that's the cause. As for what the latest BIOS for your board "fixes", there's usually an explanation on the website. There should also be a detailed description on how to perform the flash...if you've never done it before, read it over carefully & make sure you completely understand the procedure before attempting it...

If you update to the most recent BIOS, will you get the updates from previous versions?