Saying Update available immediately after downloading current version

Yup, I can reproduce. Definitely a bug. Thanks for the report, I hope to have a patch for this soon.

This should do it. Merlin and I knew there would be a slight difference between the timestamp in the .info file (what will end up on the client machine) and the timestamp of the tarball on d.o (what will be reported as the latest available update). He had code in there to attempt to ignore a difference less than 100 seconds, but the way he was doing it was a little fragile. As luck would have it, the particular datestamps for this dev snapshot just happened to be 1182212699 and 1182212700, so even though they're only 1 second apart, truncating at the 100's digit still marked this as a different time (6 vs 7). ;) The solution is easy, instead of the floor($timestamp/100) approach, we just do abs($time1 - $time2) > 100.

Nancy, can you just confirm that when you apply this patch to your site, the problem goes away?

Thanks,
-Derek

go ahead, my maths is still good enough to say "it works".

Fixed in revision 1.61 of update_status.module (HEAD).