I have not had a sim in my N6 for a while and it updated the other day to 7.1.1 build N6F27M. I just popped in my Verizon sim and it shows a update of 7.1.1 build NGI77B ( for Verizon).
Is there any need to take this update vs. keeping the other? Everything seems to be working fine. HD voice, etc.
There is a new radio for the Verizon version but I'm not sure what else is different (I know the baseband is the same). Maybe update if you plan on keeping it on Verizon for any length of time... but if everything is working fine then leave it as is?
Ideally I would flash a custom ROM then flash whatever radio works best for you. Since this is the last official update we will see this is your best case scenario. Oreo is already being developed (currently in Beta) and will soon be stable to run daily. You will still get security updates as well. There really is no reason not to flash a custom ROM, you have the easiest phone to do it on.