Hi Chaz, welcome to the forum :)
You'll find the members on here are a friendly and helpful bunch :)
By chipping I assume you mean a remap? If so it should improve fuel economy and increase the power as well. The map should also be tailored to your car as each car is different due to age, mileage, condition and the way it's been driven.
If the car hasn't been maintained properly then it can accelerate the wear on components that are under stress if that makes sense.
Hope IV helped :)
Cheers
Steve