Frequent updates are good to keep people coming back, but there's really no standard answer for that. Obviously the more useful content you add the better, but there is no one rule on how often is best. Just as long as you update it at somewhat regular intervals you should be fine.
One cool thing is to add news feeds to your site. For example, if you have a site about TV technology (HD, Plasma, etc.) you could post news articles about the latest news. Since this industry is changing frequently and always has something new, obviously a site like this would benefit from frequent updates.
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