Okay Folks....here's the scoop. According to my good friend Iain lewis of PTC in the UK, Dynamic Sectioning is INDEED a reality in Creo (didn't ask if that includes WF5 early versions). I guess Iain may chime in on that one.
The Dynamic Edit functionalty is the key driver behind Dynamic Sectioning in Creo. It'll work wherever you have the ability to show sections, ie part, assemblies, process, manufacturing, interchange, simp reps, family tables, etc etc etc. It will also work with both planer sections and offset sections.
Glad for all the responses as well.