We used to have a problem with spelling where some news event would make a person with an uncommon name famous, but google would mistakenly correct it to a more common but incorrect name just because the spelling system hadn't ever seen this person's name before. We've fixed that issue and many other freshness related things: http://googleblog.blogspot.com/2011/11/giving-you-fresher-mo... but this is an ongoing area of focus throughout a lot of our systems.
It's an interesting problem because for many things recomputing the data faster will only fix a handful of queries, so from a raw impact standpoint hardly seems worth it. However those queries end up being ones that are in the news and related to things that people care a lot about.