Please tell me you are joking.
The is no way you could possibly keep up with every vulnerability of everything installed on your server.
> If somebody breaks in and gets a local shell, all is lost anyway.
That is not true at all. You should run your server such that someone could get a shell running as the apache user - and still be able to do very little. They could read files and the database (which is bad), but not modify any files (which would be worse).