Running the updater doesn't "break" the installation, I actually advice everyone to run the updater.
After successfully running the update just edit the file <planeshift>/data/servers.xml and change

<serverlist>
   <server name="Fragnetics" ip="laanx.fragnetics.com" port="7333" />
   <server name="localhost" ip="localhost" port="13331" />
</serverlist>


to the following entry:

<serverlist>
   <server name="Fragnetics" ip="laanx.fragnetics.com" port="7777" />
</serverlist>


since the current port on laanx is 7777 and only developer need a server on localhost.

Now you can enjoy playing.

Another tip:
If you forgot you password, just copy the old password hash from your old <planeshift>/planeshift.cfg to your new installation.
The lines you need to copy/replace are:

planeshift.cfg:
----------------------

Planeshift.Connection.Fragnetics.User = my.email@address.com
Planeshift.Connection.Fragnetics.Password = 6487164816486486126386979797...



That's it! Have fun!

Btw: when you wanna check whether the server is up check server status at http://laanx.fragnetics.com/main.php ("total online" > 0)
you can log in even when nmap returns that port 7777 is closed:

------------------------
$ nmap laanx.fragnetics.com
Interesting ports on kraken.fragnetics.com (210.193.49.103):
Not shown: 1672 closed ports
PORT     STATE    SERVICE
21/tcp   open     ftp
22/tcp   open     ssh
80/tcp   open     http
111/tcp  open     rpcbind
445/tcp  filtered microsoft-ds
3306/tcp open     mysql
6881/tcp open     bittorent-tracker