I may retell what's been already told but I try to give a summary.
Library migration is
not
a must. If you modify only a few things in an older plan or it is nearly complete, it may be easier to stay with the AC12 (or any older) library. The two main drawbacks are that (A) since AC12 library is naturally not optimized for AC13, it is a bit slower; and (B) you won't get the latest fixes in the library parts.
In an other scenario, where you are only halfway with your project at the time of the migration, it would be wise to do the library migration asap. Since library parts evolve between main versions, many of them cannot stay compatible. Consequently, simply replacing AC Library 12 with 13 won't do the trick. We introduced Migration Library for covering the difference (hence the old name of it: subset library). So you have to load the newest library and some migration libraries to see all objects in their best shape.
In a longer project, there should come a second manual step: removing all references to the old library. If you work a project for several years, you should change the placed old object to the new ones. Your project will load faster and you don't have to deal with too many libraries all the time.
I know this summary is too short but I hope it outlines the concept.
Best regards,
Zsolt Táskai
ArchiCAD Development - GDL Team
AC13, AC14 and upwards...