I do frequently replace books with small changes just like you describe. When doing this, the driver will update the size of the file in the devices database. This is done to prevent the device treating it as a new book.
But, I rarely update the metadata after sending. I never think of it and do it in a big batch sometime later. I know I have done this in the past with no problem. And as I had just fixed some spelling in the book I was reading, I tried it. The book went, the metadata was updated and it wasn't reprocessed.
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