Not really. This is really only for games that need 3.61+ firmware to run. Emulators should be running in user mode so i don't think they'll take advantage of the backend libraries that have gotten updated/will be getting updated.Sorry, another thing.
This is more of a curious thing but since I can't find any reason....
I have multiple Vita's but my Vita TV in particular is used for mainly classic console stuff and 0 (zero) vita games. Is there any advantages to update the Vita TV if this is the case for the time being at least?