  We update a recent dispersion--theoretical fit to the nucleon electromagnetic
form factors by including the existing data in the time--like region. We show
that while the time--like data for the proton can be described consistently
with the existing world space--like data, this is not the case for the neutron.
Another measurement of the process $e^+ e^- \to \bar n n$ is called for. We
furthermore sharpen the previous estimate of the separation between the
perturbative and the non--perturbative regime, which is characterized by a
scale parameter $\Lambda^2 \simeq 10\,$GeV$^2$.
