To get your PS Vita working better, you should actually look for Firmware 3.74, as version 3.73 is no longer the latest release. Updating to 3.74 is required to maintain access to the PlayStation Network and improve system stability. How to Update Your PS Vita
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The sentiment "it better work" comes from the delicate nature of PS Vita jailbreaking. Updates like 3.73 often "broke" exploits like h-encore, which many users relied on to run homebrew apps. To get your PS Vita working better, you
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Many users choose to update to 3.73 specifically to begin the "jailbreaking" process. Even though older firmwares like 3.60 are preferred for permanent hacks, the easiest modern entry point is to update to 3.73 first and then use tools to modify or downgrade the system.
Via Wi-Fi: Go to Settings > System Update > Update using Wi-Fi.