Automatic Renaming of Rules feature - Q 2008 H&B

I think you're almost right about #5 (I'm sure you can still "revert", after you accept the transaction: right click any register transaction whose payee was renamed, and you'll be given the opportunity to "revert" to the downloaded name), but, if you're wrong about #5, I don't think there are any serious consequences. If you have concerns (or even if you don't); backup first.