Some projects are very complex, and involve many specified links - and redoing those just takes a lot of time.
But most projects can be completed so much faster after you've done them 3 or 4 times! (Argh!) My biggest problem projects were CS3 where I would have to manually do the chapters again in Encore. But I just kept notes (or switched between Encore and Premiere), and used "go to" timecodes, etc.
I have used dynamic link many times successfully, including making numerous changes in Premiere that updated fine in Encore (including updating chapter markers). You have to remember to "revert to original" and that you must manually update the markers as a separate step.
BUT dynamic link is the frequent source of many problems, and I was doing DVDs not Blurays, and I would use a manual export/import for a problem sequence, then abandon dynamic link entirely.
Neil uses top of the line tools, and he has said more than once that the nature of the Sonic beast - that Encore is based on - was perhaps not so much inherently temperamental, but very particular on requiring assets that were completely legal to the DVD spec. I believe that a large issue with Encore has been that Adobe was always working on just the abstraction layer and had to leave the Sonic authorcore as it was. And they didn't fix the abstraction layer issues well enough. Who knows how long they were planning on abandoning Encore.