Welcome, vollenc. Given the choice between the mechanical and electronic CCPM, I'd choose the eCCPM, but if you're just getting up to speed I don't personally think you need to worry about installing the update. One of the issues with learning helis is the amount of different skills you have to learn at one time, and the mechanical setup may be easier to understand at the start. If you do want to do the 120CCPM setup, it's easy enough to installl, and the radio setup just needs some rereading to understand (trust me

).
I've only flown FSOne in the display stand at the LHS. I have to say I like RealFlight better, but if you have FSOne already you shouldn't go out and spend more on RF. If you can get it working right, then I strongly suggest you work to get down on the sim what you're going to do with the real heli-- it's still harder in the real world than the sim, but you'll learn it quicker on the sim and break fewer parts.
Luck,