Modding is fine. Some mods do break upon major patches, but most dont. It does happen than a patch borks the install of the mods so you have to uninstall then reinstall them to get them to work again. Equipment and Quickslots, and Mass Farming are the two that I know of that are most likely to actually break when a patch comes, but they get updated pretty quickly.

Note that I do NOT have any texture mods or ones that add magic etc, so i cant comment on those.