I don't know if this topic has ever been brought up, but I would be much more likely to use the "Stamp each field at time of editing," if it said Updated 3/6/10 and not Updated by such and such doctor on 3/6/10 at 9:32.

I am not a legal coding expert, but I think that Updated on today's date pretty much indicates it was updated by that doctor just like anything in the note is assumed to be done by that doctor. Most patients get one chart a day. You can't charge for two. So, you don't really need the time.

Having Updated %Date% will not look horrible when you print the note, but having that long statement does.