If it's easy, do it. If it's a lot of work, don't. However, nothing you do will save you from condensation in this line....either a little or a lot. You'll want to clean out this line with some regularity in any event.

You don't need to insulate the vent but you do need to make sure all the pipe seams are at the bottom. This will allow any build up of moisture to drain out and not just sit in the pipe.