As far as recording goes, when I was doing mornings at WVLT back in 1999 we signed on with Express Traffic. Our updates were usually recorded since we were rather low on the totem pole, but there was never more than a five minute lag between when the report was fed, and it was recorded. And if our break timed out well enough and the reporter called in about a minute or so before the report would air, she would usually go live with it.
Recorded updates are to be expected when a service feeds nearly every station in the market, plus satellite, with a handful of reporters. I wouldn't even be surprised if the report that aired on KYW and WPHT was literally identical up to the station ID tag at the end, which can easily be pasted on by the producer at the cluster and then shipped into all the different station's computers to air as needed.
Hell, even with "live" traffic updates it's not up to the second information. Field reporters need to communicate their information into the traffic center, which then has to write/edit the copy for the reporters. There's at least a couple minutes' lag in at least some information, unless a station pays to have a chopper over literally every few miles of road in the market, which no one does.