I tend to at least get a traffic statement before I go into high traffic density areas, ie the vicinity of TV towers near Archerfield, because see and avoid is ok, alerted see and avoid is much better. As for the flight following, you are essentially getting the same service as an IFR aircraft gets in class g airspace, ie you will get traffic alerts, restricted area avoidance, updated meteorological information and a hazard alerting service. Initially setting it up can occasionally increase the workload for the controller, but in some ways it will reduce controller workload too, as we have to give IFR aircraft traffic information on known VFR aircraft, however when we know your intentions we can perhaps discount you as traffic, or at least provide much more accurate traffic information.
It is really good to use if you are going into controlled airspace, as there is nothing more frustrating for a controller than a VFR aircraft calling up 10nm prior to the boundary wanting a clearance when you are busy. If you are getting a flight following, the controller will already know you want a clearance and will integrate you into their traffic picture, and you are much more likely to get a clearance. Just remember, a flight following on its own is still not a clearance! Don't enter the CTA until you have the clearance, and if you are getting close and still don't have a clearance just give the controller a friendly reminder.
As for the logistics of using the flight following, it is only available in class E OR G, in surveillance coverage subject to controller workload. You will need a transponder and vhf radio, and while using the service, you must notify ATC of any intended changes in tracking or altitude prior to doing them, and maintain a listening watch on the centre frequency, ATC will direct any frequency transfers, and the frequency is a read back item. It makes everyone's life much easier if you already have a plan in the system, as there is a bit involved in creating a plan. Suggest reading AIP GEN 3.3 2.16 for all the info. All in all, it is a pretty handy service that is a bit under utilised.