C9 - Didn't say you were missing the point, I said you missed the concept.
Even if he wanted to use DreamWeaver, Libraries do the opposite of what he's talking about. Libraries take one set of information and iterate it across multiple places. What I'm describing, based on my interpretation of the question, is taking once iteration and using multiple setst of information on it. You're describing symbol/instance behavior, I'm describing variable content behavior.
Bobby - I checked the functionality of ImageReady, it does support variables, but it does not support using them from an external source from what I can tell. I'm sure you could achieve what you want using scripting, or another proprietary methodology. The variable structure in IR isn't very robust unfortunately. I don't know that this is true of the CS line of products though, I've heard that hey have a much more solid scripting engine, but I don't know that that is helpful if you don't have access to CS, and I couldn't guarantee that it would solve the problem.