IMHO yes. Let others know what you're doing first so they have the right of refusal, but otherwise while other DBAs will tell you to test thoroughly first, this is non trivial and I am of the opinion that you should always START by enforcing best practices and only modify from there onwards. However that's in part because we manage hundreds of servers.

Get coreinfo.exe from Microsoft and use it to print out the core/socket/numa/hyper threading configuration. Pick the lowest of cores per socket / 2 for hyperthreading, or the number of cores per numa node / 2 for hyperthreading, or 8.

We also set the cost threshold for parallelism. 5 is extremely low. We set 25 but others do 50. There is a very cool script to go through the plan cache and show you which buckets all of the queries fall into so that you can tweak, and 25 seems to be very reasonable for us.