I have inherited an eCommerce website that I am preparing for a soft launch. The code base is out of date, specifically, Drupal core is 7.23, 41 modules are out-of-date, and there are 31 Features dependent to some degree or another on any modules that get updated.

Should I apply all the updates before launching?

My gut tells me it is a show stopper (they must be applied) but I am asking for some sage advice on this list.