vBulletin 5 Status Update in Postbit
Status Update is built-in to vBulletin 5. Updating status is done on your User Profile page under About tab but it only shows up below your avatar and name on your User Profile page. This modification exposes it a bit more by displaying it in the postbit section of a post in a thread. This will encourage forum members to update their status.
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Not only does it help members update their status more often, they can also use this space to advertise. This developer does not charge for this, but he should. I recommend people donate for this, it can be valuable. Both to encourage people to login, and to encourage updates.