I don't think the emulation of most '80s titles has changed too much since .86, but there are a few changes that might be worthwhile. Atari Pokey sounds were recently updated. I don't much care for how Missile Command changed, but Centipede is a definite improvement (better twang on the shots). I think Donkey Kong and some others went from sampled sound to fully emulated discrete sound since .86. Robotron received some recent updates to make timing in higher levels much more authentic. I think there were some improvements in Star Fire too (I may be wrong, but I don't think sound worked in .86). It's also likely that improvements in various chip emulation and palette changes have subtly improved other games as well. There are regressions too, but you'll have to assess that on a game-by-game basis.
If you're going to continue to just run a strict set of golden era games, then I would stick with .86 as your base version, but consider installing a newer version alongside for just those games that might benefit from it. On the other hand, if you're thinking that you may want to expand your library to include newer games, then you may want to consider taking the 10 year plunge and establish .154 as your new base, but keep .86 alongside to handle games whose performance you preferred under that version. 90's+ era games will benefit significantly from newer mame versions.
In my setup, my FE doesn't call mame.exe directly to launch a game, but rather a very simple AHK script that searches for the rom and launches it in the version of mame that it finds it in. This way I can change the version of mame that a game uses by just dragging the rom from one version to another rather than changing any configuration in the FE.