Works good for me:
Set up a book with some data
Copied the data across to the new book, but pasted as linked value
Enabled workbook connections
Changed some values in the source book
Refreshed Manually and noted changes in target workbook
Viewed the datasource and enabled it automatically updating
Changed more data in the source book
After some time, noted the changes in the target book.
Then:
Copied the link into a new cell, edited the link to bring in a range of data rather than a single value, edited the formula further into a SUM() and correct values all returned.
Maybe a few annoyances linked the initial disabling of the links and the setting to manual updates in the first instance. but these are only changes which need to be made once to a workbook and likely done for security reasons.
To me it looks like this will cater for most people needs (albeit about two years later than I would have hoped!).
Then set it back to automatically update