Yeah it does but how are you going to update it?
It's a good idea to update the scanners virus definitions before running, but it's not always necessary to remove an infection. Boot discs are mainly for tough situations, when the computer isn't booting into windows, or is being effected at startup.
My advice is usually to use the boot discs to clear up as much infection as possible, and then to run through the malware guide in my signature. It's a thorough process.