Quick (non-security) updates means less testing and more potential bugs and security problems. This is fine for a dev workstation, but less fine for a production server. Personally I use Debian on my servers since it gives me a solid base I can trust and then I manually install the few pieces that I need more up to date versions of.
In my case that's Node.js, Redis, nginx and occasionally python 2.7, and of those I'd be installing Redis (I often run beta releases) and nginx (want to compile in my own modules) by hand on Ubuntu as well. Sure this is slightly more work, but it gives me more control and I feel a more stable server environment.
Quick updates also decrease the likelyhood that there will come a point in time when you say "damn, we really need the new version of XYZ, let's just compile it and install it ourselves...", which involves problems of its own: you now have to monitor security updates for those system components yourself, rather than simply running the package manager to pick up security updates. It's a tradeoff, and I think Ubuntu handles it fairly well: you can either get the regularly updated ones, or the long term releases.
In my case that's Node.js, Redis, nginx and occasionally python 2.7, and of those I'd be installing Redis (I often run beta releases) and nginx (want to compile in my own modules) by hand on Ubuntu as well. Sure this is slightly more work, but it gives me more control and I feel a more stable server environment.