updating live CD: does it result in more up-to-date installations?

[D. Hugh Redelmeier]

I have built a USB stick with a Live Fedora 19 on it.

I gave it a large overlay to make room for updates.

I booted the stick and did a yum update.  (Boy was that slow.  I think 
that the Kingston DT101 G2 stick, combined with the USB 2.0 interface, was 
the cause.)

If I install from this stick, will the installed system be already 
updated?

Would I have to go through this process first?
 <https://fedoraproject.org/wiki/LiveOS_image#Merge_overlay_into_new_image>