Anything you put out into the public domain should be worth someone's time and attention. I hear variations of this refrain a lot:
"My website is terrible, but you know, I get most of my business from word of mouth, so that really doesn't matter. Besides, I just don't have time to deal with updating/fixing it."
I call this Placeholder Syndrome.
If you're so overrun with business that you couldn't possibly handle any more ... congratulations! (And when can we have lunch and talk about how you did that?)
If not, you should yank out of circulation any outdated, hard-to-understand, hard-to-navigate, unappealing promotional websites, print pieces, LinkedIn company pages, etc.
Why would you want embarrassing, outdated materials that bear the name of your organization floating around in cyberspace?
It’s very likely that people who want to do business with you will plug your name into search engines. You want them to find results that make you look '2013,' not '1996.'
Better to spend the time and money to get something up-to-date and engaging out there, even if it’s very straightforward and short on bells and whistles.
Bottom line: If you hang out your shingle in public, make sure every word, picture and function reflect well on you/your organization and serve a purpose.