What Twinkle McNugget was saying as I understand it is that yes... when you are standing in one place and not moving about the steps one and two happen without a hitch. I have had to move an item in my pack once or twice because properties were not showing in the past and then it is fine from then on.
He was trying to make the point that as you run around or do other things that may produce lag, event property still updated just as fast but the UO client does not always show the items properties fast enough to be updated in an event property. An example is in my intruder alert script. If i am moving around a lot or running and come across a NPC, it triggers the alert because even thought the name is in my ignore list, the property was slow showing and easy uo read the item type before the property on it was updated in the UO client.
In your case, Twinkle McNugget was saying that since you are standing in one place, there should be a lot less lag and things should update in a speed that is not an issue. It should be clearing 100% of the time. If you are watching the variables though, it looks the same. It never goes blank and then reloads... it just switches to the next which is identical instantly. no lag should equal 100% accuracy.
I do not think you got your answer that you were seeking though. I am not sure if you can set an event property to N/A in between each scan to see evidence of the change when scanning each item. In your case, you are standing still. So in this case, Twinkle McNugget was saying that you are not moving and basically should not be experiencing a delayedrepresentation in event properties as described above. Therefore, properties should be accurate.
Try:
event property #charid
wait 20
set #property N/A
halt
and see if the event property changes.
That may or may not be 100% what the gist was but that is what I got when skimming through the posts.

Twinkle McNugget please jump in and further clarify if I unintentionally misrepresented any information.
I also gathered that your event message is
possibly conflicting with your lock down message because there is not enough between messages which could cause a possible timing hitch. I have never tried mixing the two as exevent messages tweak me out, despite only being client side. I just feel like GMs would see it somehow in the journal etc. That is a diff story.