actually, you can save the apps to be reinstalled at a later time without the need for root access. ASTRO does that. go to manu/tools/application manager and from there you can save all your installed apps on another location (SD card) and reinstall it from there whenever you want.
you will still get the update i think but not 100% sure
IMO its not really worth stealing a .99 cent app. its only a buck for crying out loud. now Adobe CS4 that's totally different story