Thanks for the answers, but what I really wanted to know is the possible consequences of blocking the updates, not performing them.
If this didn't come out clearly, I apologize.
So, do the games actually need updating in order to run or is it just the way the devil gets inside of your Wii?
(I run 3.1E by the way..)
There's no reason to not block the updates. You aren't gimping yourself.
Since you're 3.1E the only way you're going to possibly brick yourself is running an NTSC (US) retail (not backup) game through the default disc channel. If you DO manage to do that, being on 3.1 you'll be pretty well screwed.
So in short, block all updates, there's no negative side effects in doing so. You WILL need to install some cIOS's to get WiiWare and other newer stuff working, but its all optional.
Theres nothing bad about blocking updates. I can do anything I want with my 3.2U console. I can run any homebrew I want, I can play any wiiware/VC games. Plus you can play games that require a system update. One game that requires a system update, well games, is any of the rockband titles. You can still play those by skipping the updates. But I would seriously consider upgrading your firmware, but not through nintendo. Theres plenty of people on here and even tutorials that can help you.