Ahah. I was wrong in what gets updated. Just found out these are the fields that are updated:
CurrentPrice
HighBidder
HighBidderFeedback
BidCount
Currency
EndTime
I'll look into adding title updates to this as well, but that won't happen right away. I was also thinking of adding a "force complete update" feature, so that it would basically delete the item and then readd it.
-Kevin