If you've got a joystick that spikes a little around the centre, then increasing the deadband will certainly help.
Same goes for dampening, which acts to 'average out' stick positions. If your joystick spikes at half deflection for example, increasing dampening will stop those sudden jumps which occur when your joystick hits the bad spot. Increasing dampening slows down your control deflections it seems (at least it does on my setup), so if you're always getting the "Dont move your joystick so fast" message, try increasing dampening by small increments.