As I understand, the main item is increased security to the XP firewall.
I have my own firewall, actually two, my router and recently installed PCcillin firewall ( was using Zone Alarm prior).
What else does SP2 contain that I might need?
I'm doing about the same thing as you and I don't think I'll need the items SP2 offers either. It would be good if Microsoft would give us the option of choosing what parts of SP2 to install, but then we wouldn't expect anything else from Microsoft anyway huh?