Does the iPhone/iPod touch get updated automatically with all the networks I can use with my hotspot account?
No, the current version we have for the iPhone/iPod touch does not implement a feature we call provisioning (it is available on several other platforms including Windows, Windows Mobile and Nokia S60). For now with your iPhone/iPod touch you’ll need to manually select the Wi-Fi network the first time you use it (your iPhone/iPod touch will remember and connect you automatically when you’re in range of that network in the future).