Ann,

A> SUPPLANT, SUBSTITUTE, SUPERSEDE, USURP, RECONSTRUCT, REBUILD,
A> REDO, reconstitute; reconvert; renew, renovate; regenerate;
A> rejuvenate, reestablish, restore, recreate...

I like USURP but somehow I don't think it will get much consensus. ;-)

I don't think REPLACE is a good name for this feature. To my mind, it
conveys the concept of something that takes the place of something
else that was there first, like deleting and re-inserting a record.

MERGE would be more appropriate, but I understand this name is
reserved for a future SQL-compliant implementation.

INSERT OR UPDATE would be consistent with similar things done in other
areas (like CREATE OR ALTER), but it's difficult to parse and might be
misinterpreted by dumb parsers. What's left? UPGRADE?

Ciao
--
Nando Dessena