EzLo's got you covered with a good list of positives, and I'm going to toss out just one negative. I don't think it applies to YOUR case, but I'm recording this here for other folks who might read this answer later for their own uses.
If your query might update multiple fields, then there's going to be a cost to building all these different queries:
Say we're only updating someone's last name:
SET LastName = 'Smith'
WHERE id='100' AND LastName = 'Jones';
But say we're also updating their last name and address:
SET LastName = 'Smith',
StreetAddress = '123 Main Street',
City = 'San Francisco',
State = 'CA'
AND LastName = 'Jones'
AND City = 'New York'
AND State = 'NY';
To build a query like that, you're going to need to do a lot of equality checking in your app code. Plus, to make matters worse, you're going to end up bloating the plan cache with lots of different update strings that get executed when different combinations of parameters are used - because sometimes we only update LastName, sometimes we update LastName and City, sometimes we update City and State but not LastName, etc.