@zjv5002 - There's hardly ever a downside to knowing more stuff. I found that a little bit of classical Chinese helped me make sense of certain aspects of modern Chinese, and it helped a ton with set phrases, classical references, and all of the other fragments of the classical language that have embedded themselves in the modern language.

It's also a lot of fun - though this can vary depending on your teacher. A while ago I was startled to see some students complaining about having to read Zhuangzi in their classical Chinese class: it turned out that nobody had told them that Zhuangzi is funny, or that one of the most famous passages in the book hinges upon a bad pun. (The passage "魚之樂" in 秋水篇; the pun is that 安 means both "how" and "where.") If you get a tutor, you'll want to make sure to get someone who knows their stuff.

There's no downside to reading more contemporary literature either, of course, but it's not really an either/or choice.