Applying service packs is something to be wary of. By the way, if you are connected to the internet, you ARE on a network.
My experience with Win2k SP2,3 and 4 is that when you apply it to an existing install, it's just as likely to break the system as fix it.
What I've done for each of these service packs is use the slipstream process to create new install CDs. When I've installed fresh systems at the service pack level, I've never had any problems.
I can only guess why this is, but my guess is that it some programs modify system files, and when the service pack replaces them, the OS chokes.
As to your original question, you get it all the fixes. You also get the windows update service installed and turned on by default. Turn this service off immediately or you'll get every little patch they release installed on your system. Their patches are often buggy and decrease performance and/or crash your system.
You should keep yourself aware of the service packs and patches however. Read and understand what they're about. If you think you need it, install it, but only do so after researching the results that others had with the patch or service pack. After all, what good is a security patch that kills your computer?
Back up your data, install the service pack, and good luck to you.