Stored Procedures, version 5.03 and 7.13

Okay, I know what TFM says about this subject, at least for the 7.13+ environments, but I wanted to get some verification since I know I have seen this as an issue in cdi. When you do a general update statistics, does the query plan of the stored procedure change if the affected table has changed? (manual say yes) What if you update statistics only for that table, will the query plan still be modified? (manual says yes when the stored procedure is run, will that delay the user?) How are others on version 5 and 7 taking care of making stored procedures as effective as possible?