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francie_brady - 5:30 pm on Mar 8, 2012 (gmt 0)
I found 1 change and ranking may go up or down based on relevancy, 2 or more changes within a short time frame (30 days +/- or more - not too sure), has resulted in drop in rankings, usually 10 positions or so. *I keep the title to 64 characters almost every time.
I think Google looks at the home page title as being similar to the sign outside a brick and mortar business... how often does one change their sign?, and how dramatic is the change?