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[edited by: tedster at 3:26 pm (utc) on Sep 1, 2010]
Absolutely yes, certain query terms are tagged to change the way the results work with the seasons. Others with the day of the week or even the hour of the day. It is also mentioned in one of the patents - I'll see if I can dig it up.
"And the importance of page title itself is less important overall. (It still is very important, but where it might be worth 114 points a few months ago it is worth 93 points now.) "