If you always shoot offhand with no sling, you probably wouldn't notice any difference. Any time you use equipment that puts pressure on the handguards, though, a free-float handguard should help. Bipods are a big one - if you've got a bipod attached to a standard handguard, any downward pressure you put on it will cause barrel flex to some degree. In service rifle shooting, the free-float handguards are designed with the sling swivel attached to the handguard and not the bayo lug or front sight tower; this makes a huge difference when you're in the prone position using your sling, because you can put a lot of torque on the barrel if you're slinged up nice and tight.
If you're just plinking with your basic chrome-lined barrel at 100 yards, you probably wouldn't notice any difference at all. But if you stretch it out farther, and start looking for real accuracy, free-floating the barrel can really help.