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No problems at all that I can think of. I've been updating pretty much every day and have noticed a couple of small issues (Bluetooth message support issue made BT go nuts) that get resolved pretty quickly.
Generally would definitely recommend it. Make a backup before flashing it and to be extra safe, take a peek at the xda nightlies thread. They'll discuss any issues/fixes as soon as they're apparent.
TurtleRecall
How are you finding the 12.1 nightlies? I'm on the final 12.0 nightly which has been stable as hell so I've been putting off updating.