I find that the Unreal Networking Documentation (http://udn.epicgames.com/Three/NetworkingOverview.html#Unreal Networking Architecture)Unreal Networking Documentation and Valve (http://developer.valvesoftware.com/wiki/Source_Multiplayer_NetworkingValve Networking Documentation) Networking Documentation provide a good primer on a variety of the issues.
ItsIt's hard to provide a simple yes or no answer here...because it depends on the scale (number of observing entities), frequency of updates and size of updates. For example, collecting them all might be horridly wrong if the size of the updates could blow a buffer somewhere.