Most potential "privilege escalations" i.e. being able to take control without the password were related to the web interface, which you should disable anyway.
This is typically true, however the vast majority of resolved caveats seem to be DoS related, and of that category, it's SNMP that stands out. It is nice to see two bug fixes on that list as well, given the age of the product.
Of the caveats listed as "privilege escalation":
CSCwj97907 - IESDM (HTTP -> Ability to gain level 15 with a lower level account)
CSCwm64309 - CLI - Level 15 user can gain root on the underlying OS (this has an impact score of HIGH)
CSCwm66565 - CLI - Level 15 user can gain root on the underlying OS (this has an impact score of HIGH)
CSCwm68661 - CLI - Level 15 user can gain root on the underlying OS (this has an impact score of HIGH)
The last three all seem to be variations of the same issue, but they all have separate CVE's?
So, in this particular instance, of the privilege escalation caveats, 1/4 of them are web-based, the remaining 3/4 are CLI-based, which I find interesting, but not surprising given where we are in the product support lifecycle.
Given these facts, I think it's worthwhile to upgrade to this release.