Safari 5.1, OS 10.6.8 and cookie controls

Question

Ok, I know there are numerous threads here in the Mac Safari forum regarding the issue of Safari 5.1 and cookie control. I just thought I would start my own thread instead of continuing on something else.
I am using Safari 5.1 and 10.6.8. I waited for a bit to update to 5.1 (did it this week), giving it since its debut on July 20th. I too am experiencing the lack of cookie controls. The three settings that exists do not seem to do what they say except that they always allow cookies.  To update from Safari 505, I downloaded the installer from Apple downloads instead of using SU function. 
Has anyone read something that Apple knows of this issue? 
Since installing Safari 5.1, I have done the last security update as well.
I remember reading that reinstalling the 1.1 version of the 10.6.8 combo would replace Safari 5.1 with 505. But, has anyone tried that? Will Safari 5.1 show up in software update as well as the last security update? I am wondering if I reapply that combo if it will undo the last security fix as well (since I am assuming software update will still see the receipt for the previous ones and not call for them to be redone).
If all cookies are coming through, isn't this a serious bug?  I have been resetting safari often to wipe them out, but they reoccur switftly.  I have to MBP's and am seeing the same behaviour on both.

Answer 1

I'd use that terminal command - takes seconds (and a restart) + no download. But otherwise yes - the 10.6.8 v1.1 then the update & anything else software update picks up (not safari, obviously )
Some people happily get a copy of just the safari 5.0.5 application & use that, since apparently it works, although I'm not sure what cookie function you'll get (easy enough to see). You'd use Pacifist to extract it from the 5.0.5 installer package, or grab it from a backup.
Although you'd hope software update would catch the security change - I'm not sure if the combo would overwrite the new or not... on the one hand, it's newer, but on the other, it sure over-wrote safari 5.1 when i checked it... so better to be sure, I haven't checked since that update.
If you look at the files in /System/Library/Keychains/ afterwards - if EVRoots.plist, SystemRootCertificates.keychain, and SystemTrustSettings.plist are all dated 23 April 2011, the combo rolled them back - if they're later... it didn't.
Apple do know, since bug reports come back as 'duplicate of...' - but  there's no public info to my knowledge.
How much of a security issue is this? Should I worry about it, or just leave it until they update to fix?
more privacy than real security, I'd say - although there are add-ons to manage cookies.