John Collins has released version 4.05 of his latexmk script. The new version fixes several bugs. Latexmk completely automates the process of generating a LaTeX document. Given the source files for a document, latexmk issues the appropriate sequence of commands to generate a DVI, PS, PDF or hardcopy version of the document.
An important feature is the “preview continuous mode”, where the script watches all of the source files (primary file and included TeX and graphics files), and reruns LaTeX, etc., whenever a source file has changed. Thus a previewer can have an updated display whenever the source files change.