We are using Word 2007.

Currently we have several forms for tasks that we do. When we need to perform the task we end up having to do a search/replace to replicate data consistently across the document.

We would like to use Content Controls or Form Fields so that we would simply update a table at the start the document and the rest would update accordingly.

Here is a simplified exampe of a current document where we would do search/replace for each [item]:

Using legacy formfields in a protected form, if you check the box to "calculate on exit" it will update anything depending on the contents of that formfield.

Here is a link to other links about forms:
Making Forms with Microsoft Word

You may want to use Greg Maxey's add-in when constructing forms using legacy controls. Among other things, it gives you back the lock button.
Add Classic FormField Controls to Ribbon

Good info... Thanks!