Without a doubt! (And I am not just saying that because I own a content writing marketplace.)
Google updates have come and gone. Some of my network of sites have been killed, others are still at the top and from what I can tell it is the ones that I updated consistently that survived at the top. Content is not just about drawing a few more organic visitors, it is about becoming know as the authority in your area. Some of my smaller sites only have 5 pages, but when other sites only have one or two pages dedicated to the topic my sites with updated quality content are going to win.
For example FloridaTunaFishing.com is a new site within the last few months that ranks first in Google in a very small market. There is very low search volume, but a fishing charter is an expensive outing for those of you who have not been out on the ocean so it only takes a few leads a month to pay off.
With this site it is not going to take 10 articles a month to stay at number 1 on Google. It might take one a month or even 1 ever 4 months. I might just do a preview of the next fishing season like tuna fishing for the fall ever few months. As long as it stays current it should stay on top of the other static sites.
After some time of building content you become the go to guide in the industry and from there links and traffic will begin to build on each other. Here is a great info graphic about content for seo.
If you are looking for some new content I would love to talk to you about working with College Copywriters.
How often are you updating your content?