Well I currently have a 750GB external HFS+ formatted for time machine, but if I installed only windows I would want to reformat it to ntfs and thus could not install mac os on it right? The prospect of buying another drive (hfs+ formatted) solely for the ultimate purpose of firmware updating seems a little strange to me, but it is a valid point.
I guess it would be done like this:
1. I Realize I need a firmware update
2. Plug in external drive
3. Load with option-select to external drive and wait forever for os x to load
4. Update firmware from apple's website (I've never done a firmware update, is it in software update or like flashing a bios?)
5. Unplug drive
6. Restart computer
Question: How would I load os x onto the external hdd in the first place? Will leopard dvd on bootup recognize external hard drive and install to that? I guess I might have to diskutil it and add a gpt component, correct?
The point isn't just firmware updates alone, it's preserving the ability to boot a $3000 hardware system (assuming MBA SSD) to the OS it was designed for, for whatever reason that might be.
Firmware updates are just the only thing that are KNOWN not to work if you do not have a bootable drive with the (empty) EFI partition. Once you have a way of booting OS X, you can feel free to remove it from the internal put away the external and hope you never have to use it. If you were doing this with a Mac Pro or Macbook the easiest solution is to buy a separate drive for your Windows adventure and just shelve the original drive for a rainy day. This is not likely with the MBA SSD since you would not be able to buy a spare drive so inexpensively, or the MBP or iMac since it is hard to access the HDD in those systems.
You
could probably just repartition your Time Machine drive Boot Camp style, small bootable HFS+ partition with a large NTFS partition behind it. I'm not sure Boot Camp Assistant can do this for you, but you should be able to find a guide to do it manually.
And yes the OS X installer has no problems installing to an external from scratch. By default, if you let it at a fresh drive it will use a GPT partition table, just because it is that much better than MBR. You just don't want to have to deal with learning about that when you need it.
Firmware updates come in via Software Update and usually take hold on the next boot of OS X, but if you don't occasionally boot to OS X, you might not know about the updates....
B