> Does NTP periodically re-resolve hosts that are referred-to by hostname or is 
> it an IP lookup at start-time only?

AFAIK it does not.
However you may restart ntpd periodically.
(Actually I just check with a script if our servers has enough peers.)

> If it DOES resolve the host IPs periodically, is it intelligent enough to use 
> something like DNS TTL to know WHEN to refresh?

No application works like this.
TTL is no such information what gethostbyname() returns.
Programs should make extra efforts to gather TTL.

Gabor
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