Downloading the CP 2.7 is entirely optional for anyone who is up to date through the Updater. The CP 2.7 release mostly addresses bugs in the installer itself that were causing issues within NAB and NerfEd. If you do not have a CP, or you have the CP 2.0 or lower, you will need to install the CP 2.7.
At this very moment, if you have kept up to date using the NAB updater, you can run the updater now and you will receive a small executable file downloaded to your NAB directory called the ‘CP_2_7_Ini_Patcher’. Running this executable is also optional, but I highly recommend it, since the Ini Patcher will make sure your configuration (Ini) files are up to date and have no errors in them that might have been introduced by the CP 2.6.
The Ini Patcher also has the option to delete any unneeded (old versions and duplicates mostly) map files and to install maplists for most gametypes. These maplists are purely for online play, so they are optional for all users. However, I still recommend running at least the Ini Patch and Bad File Deletion protocols from within the CP_2_7_Ini_Patcher.