Hi,
Here's the configuration of the computer.
Acer Aspire M5100
Model: AM5100-U5301A
Motherboard: F690GVM (that's what Open Hardware Monitor shows)
BIOS: Phoenix-AwardBIOS, SMBIOS Version: 2.4, System BIOS Version: 6.00 PC, System BIOS ID: R01-A3, BIOS Release Date: 10.10.2007
CPU: AMD Athlon 64 X2 Dual Core 6000+
RAM: 4 STICKS of 1GB DDR2 NANYA NT1GT64U8HBOBY-25D (looks like these are replaced as there's HP stickers on all of them, besides, I can read 3GB of RAM on the box)
HDD: 500GB SATA II Seagate Barracuda ST3500830AS
Video: Onboard ATI Radeon X1200
Windoes 7 X64 (all updates installed)
Computer fully scanned with Security Essentials and Malware Bytes

Here's the reason I want to update BIOS.
With 4 sticks of RAM installed, LAN won't work. With automatic IP, it shows 169... for the IP issued, although my network gateway is 192.168.1.1. When I set IP manually (something like 192.168.1.150), it still doesn't work. No ping, browsers or anything.
Also instead of any sound you'd get a static noise.
It all goes away when I remove the RAM stick in the 4th socket. A particular stick does not matter, It just has to be 3GB to get working. I have shuffled them. Moreover, the issue persists when I installed another 2 sticks of 2GB (total 4GB) from a different computer. I did neither find any BIOS published at Acer site, nor did I find any instructions for updating BIOS there.
Please help!What tells you a BIOS update addresses the issue ? ?Just a guess.The reason patio asked is because it's not recommended to flash your BIOS UNLESS you know that the BIOS update specifically addresses a bug you are ENCOUNTERING.  If something goes wrong during the flashing operation, you could end up with a computer that will no longer boot and will be difficult, if not impossible, to recover.

  + 1 ^^^