I've also found it a good idea to keep a copy of the vBulletin files you downloaded last when updating it so that you have a set of default files in case a mod screws up the working ones on the server. I'd also say that you might still want to backup the stuff stored in files, because while that getting deleted wouldn't stop your board running, it wouldn't be very popular for your users or for your free time uploading it and finding all the things again...
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