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It is common to want to be absolutely sure any runtime upgrades and some mission critical extrinsics will work as expected in a safe but otherwise identical environment to a production chain. Testing this locally would be ideal.
Is there a recommended way to emulate the configuration and/or the present state, for polkadot-launch for a live relay chain?
This script allows bootstrapping a new substrate chain with the current state of a live chain. Using this, you can create a fork of Polkadot, Kusama and other substrate chain for development purposes.
Also useful:
xcm-emulator - the emulator that takes into account state of a target chain (simulator is now in Polkadot itself).