Yes I keep it up to date. One thing though, if you do create an ext partition, this will eat into your free space of the SD card. On the flip side, you wont have any applications on the FAT partition anymore.
But as its an entire partition, you create Maybe 1GB, and maybe fill 300MB, your free space on SD is still 1GB down. At the moment, with your methods, you would only be 300MB down, so perhaps its not the best option for you if internal memory is ok and SD is an issue.