I do know that items regenerate, but what has to happen to trigger this is really an unknown. I've seen when I dock they regen, but not all the time. I know that if the server is rebooted, everything regens right away. Sometimes in MP if everyone in a particular system docks, then they regen..but not all the time.
The mystery will continue until we can test all the possibilites. Any takers on this? We could do it with a password protected server to ensure testing is not tainted. Might be a good project to hammer out b4 game goes retail.
I could set up TLR server for testing one day we can all agree on.