In case any of you were unaware - like myself until today...
At some point rhnsd was updated to allow an INTERVAL of 1 minute if you use Satellite.
Specify the interval that rhnsd should wait between checking the
Red Hat Network. Default is 240 minutes, the minimum is 60 min-
utes for Red Hat Network and 1 minute for an RHN Satellite. This
can also be specified in /etc/sysconfig/rhn/rhnsd
UPDATE: it appears this functionality has only been update for rhnsd and RHEL 5 :-( Hopefully it will be on the radar for RHEL 6 relatively soon.