No, you don't need to unless you want to wait additional seconds after booting up every program out there.
If you want *sigh* redNAND then check redNAND option to ON and STP and EEPROM redirection in advanced settings to ON.
I don't really recommend it because it will probably corrupt and you will come here crying that redNAND doesn't want to boot anymore...
The new feature to disable full OS reload behaves similar to the simple signature patcher except that it setups execution memory region from kernel for wupserver and iosuhax dev node code and starts those. So it's a fast simple signature patcher with the addition of wupserver and iosuhax dev node. Another addition to the simple sign patcher is that the patches reload themself when exiting settings. Launch image is disabled for this method though.
I agree with Felek666. For a person who just wants to run games, disabling the OS relaunch is ok when you're running on sysNAND.
As for why you can't put an image at launch when you don't relaunch, think of it this way: If you stand in line at the cafe (the normal method), you've got time and a place to show your pictures to the person ahead of you. If you skip the line (the shortcut), you just put in your order, grab your drink, and go. Skipping the relaunch is like skipping the line.
there's a Hooters clone near my location (less than a mile) called Twin Peaks. I think I had my birthday there one year. as much as I like T and A, I'm more attracted to a girl's eyes, hair, and personality.