Yes indeed a critical specification for stable multicopter performance. I agree the physics of it is like measuring with a micrometer(gyros and accelerometers) and marking with a grease pencil(FCBs) than cutting with an axe(ESCs/motors/props)
Most agree decent multicopter performance starts at about 200hz ESC update frequency. The known good performing PWM ESCs for multicopters are pretty well known now along with the poor performers. The I2c ESCs have always been the quick answer for faster is better. The MK update is about 500hz and the XBLCs of the famous lab dancing quads are updated at 1000hz. So despite the irony of the physics, faster does seem to perform better on multicopters.
Now if someone could only follow-up on dynamic braking ESCs to make the response even more accurate we would probably be seeing another performance quality jump. Airbotix had started on that path here: http://www.rcgroups.com/forums/showthread.php?t=958957
You might also ask some of the bright Gents like Quax and SimonK and Timecop and others who frequent the ESC conversion thread: http://www.rcgroups.com/forums/showthread.php?t=766589
Kaptienkuk had some good ESC update frequency info here: http://www.rcgroups.com/forums/showt...date+frequency
Quadrocopter and Tricopter Mega Link Index