Agreed the lack of satellite images is a pain. I don't think that updating in Bing updates in the Yellow Pages, but I'm not basing that on any research or other hard data.
I've just estimated the location the best I can when adjusting the pin. Usually I'm moving the pin across a street or out of the middle of an intersection so I feel I'm improving the location even if I don't get it perfect.
Regional Coordinator: Mid-Altantic, US
Verizon, Droid Razr Maxx HD, Android 4.1.2, Waze 188.8.131.52