The above answers, are a bit incomplete, let me give you a more accurate answer regarding the Firmware update portion. Generally speaking no it is not common, but this is mainly because adding new features like BIOS Legacy has never happened before. However, the SMC Firmware update is a straight low-level bug fix (new platform quirk as stated in the above comment) to prevent Boot Issues, and does not relate to BIOS Legacy Support.
The EFI Firmware Update was to add BIOS Legacy Support, so that Windows XP can be used. The 1.0.1 update was to add right-to-left (Example: Japanese) Language Support to the BIOS. These type of updates would not have happened on the PowerPC Machines, but it doesn't mean the Macbook Pro is any less reliable because of them.
The EFI firmware update seems to have added the little touch of preventing the disk eject from trying to eject a disk on an empty drive multiple times after the first time it's pressed. These are just little tweaks though, and I've noticed nothing else different after the BIOS Legacy Support EFI update.
Finally, EFI stands for Extensible Firmware Interface and BIOS stands for Basic Input Output System. Both related to intializing hardware, and run a bootstrap program to place the computer in a state where the operating system can be loaded. EFI is Intel's modern replacement to BIOS, which has been around since the first IBM PC.