Yeah Jim, it is just minutiae and doesn't really affect posts themselves. Just chatting it out though, glad you don't mind. I see them as either a tool for the user to see how popular a place is in regards to posting (which is where I come up with the misleading statistic reason) or a tool for Admins to use in management.
As far as new posts, I thought that was a function of user cookies and/or individual settings, not a global function. If I was to not log on for a month, I don't think it would show only the posts in the last 40 minutes as new.
Thanks for the discussion though, this kind of administrative stuff always interest me.