Personally I would be server before updates but I'm not staff :P. But, there are also probably less people who can actually work on the server it self than there are that can work on content so it's not like both can't be done.
I don't know if another separate server is the answer though. It's not like being late hurts you in pokemon. The level 100 limit isn't going to change, rates aren't going to change, there is no real advantage to everyone starting over.