They shouldn't need "updates" as the rules haven't changed in 10-12 years or more.
That said, I'm not sure what "updates" they could be referring to.
If we're talking prior to billet rods, welded lifter bores, or cams from 2007, then yea, I guess it would need updated.
We offer fresh rebuilt flatheads starting at $500. At some tracks, the flatheads have really come back. You can't hardly buy a tuned Predator with the governor in tact for $500 anymore, and at least you've got a billet rod in the old flatty!