The point of the question was to get folks to learn about the fact that while sp_update_jobschedule is available, it is not the best answer, as it is only available for backward compatibility purposes. That's why the question included the critical phrase "(even beyond SQL Server 2008)", which was intended to trigger the notion that a change is in the air.
Chris, folks on my team had the same reaction, so I've been expecting this for a few weeks. I really appreciate the feedback. And as someone who has also felt "duped" by bad answer choices, I am wholly appreciative of your concerns. However, I hope you'll agree that the ability to manipulate schedules independent of jobs is a great feature in SQL Server 2005.