In the Store settings, there is an option to "Update apps automatically". When turned on, will this simply check for updates x times per day (meaning that if I'm waiting on an update, I may have to check manually), or does it update each app as updates are released?
With this set, the store will check for apps "periodically", and download and install updates without requiring user intervention.
For me, this I notice this typically just as I pick my phone up first thing in the morning, and the phone signs on to mw WiFi network, as I'll get an entry in the notification centre saying "x apps updated". It might check more frequently, but I've never been in a situation when I've gone to go into an app and needed to wait for the update to download.