I too have Trace MVP, plus mild Tricuspid - Im currently going to a cardiologist & EP (electrophysiologist) plus I've seen a 2nd EP for a 2nd opinion for another condition.
They told me that most every adult would have a "trace" of insufficiency/regurgitation - it's normal and a natural part of aging.
If it's mild, moderate or severe they have you keep track of it and more frequent echo's - I go back in 6 mths for check on that.
I would ask your doctor also; just to be safe and make sure there's not something else there - each person is different and I think we may get different answers from different doctors.
My cardiologist told me that I had a trace of regurgitation on my echo, but that it was completely normal for a 37-year-old to have this (he said this is what you see in a normal 37-year-old heart). I am now 45 and no problems yet. I do not think that a trace is anything to worry about and a lot of people have a trace. If it gets to be mild or moderate, then it would be a concern.