Upgrades with unlocked armor?

[Bob Dole 007]

Does anybody know if doing systems upgrades help at all if you're using the unlocked armor? I figured it didn't since when you try to select different upgrades once you go up a level it tells you that they're already been optimized. Don't know if I need to bother with doing the upgrades (thus trying to get more money during missions) or if it's a waste of time...

EDIT: Made title more descriptive

[MajinFro]

It appears it does. I know I have a bigger power bar when I upgrade the power.

[Slim Pizza Boy]

Yeah I am pretty sure you can upgrade them if you start a new story mode.

[MadMikeD420]

yea i have noticed both a health and energy bar increase as i upgrade the two items. formidable mode is just too damn cheap anyway!