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According to Verizon, you should be doing this once a month anyways to update your roaming and towers. Especially with this new update but also as Verizon expands its towers and updates the towers from Alltel.
Although I might be biased (being that I work for Big Red), suggesting a customer update the PRL (*228 'Send', Option 2) when they are experiencing a drop in coverage/call quality in their home or place of business (somewhere they were not experiencing it previously) is not a 'placebo', but rather the 1st thing to do in troubleshooting a problem someone is having with their phone...
I have personally advised the PRL update to a customer when electronically, nothing appears to be wrong with the device nor is it showing signs of physical wear and tear, follow up afterwords, and they said it was working fine.
I thought activating it updated the prl.. but possibly not, my incredible was only 2 days old and it updated quite far... I can't remember what it was but I was quite a jump.... so yes, I recommend doing it.. even if your phone has just been activated.