Something I only discovered today, but the Update Status module presents a “Settings” tab, as well as the default “List” tab.

Clicking on “Settings” will take you to a new page where you can configure your Drupal site to email you where there are module updates!

There are other general settings like: “When to check” and “New versions” vs. “Security updates”.

And you can set per module settings – like to not report any information about a module (not recommended) or to ignore the development releases.