I am running vcentre 4.0.0 and the Hardware Status page is showing good information about my hosts but it doesn't appear to automatically update. If I hit the update link it does so but is there a way to schedule an update once a day?
This page should be updating automatically. I tested it on vsphere connected to my vcenter and let it sit on that page, looks like it updated about every 5 minutes automatically. I would try updating the version of vsphere or run hotfixes on your vcenter.