Tylor,
While each drawing needs to have a border and title block, there are a couple of ways you can avoid inserting them each time. The first way is to create a template (DWT) and use that when you start a new drawing. Or you can create a prototype project and include the basic drawings for what you do for each project. My company uses both these methods.
As for updating the text, in the project dialog box (ACE2005) you can edit then update any line of text in the title block for just the current drawing or project wide, or select those drawings you wish to change.
Martin