I checked with Firebug. Here is the post:
<soap:Envelope xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:soap="http://schemas.xmlsoap.org/soap/envelope/">
<soap:Body>
<UpdateListItems xmlns="http://schemas.microsoft.com/sharepoint/soap/">
<listName>Quotes</listName>
<updates>
<Batch OnError="Continue">
<Method ID="1" Cmd="Update">
<Field Name="Company">New Company</Field>
<Field Name="ID">79615</Field>
</Method>
</Batch>
</updates>
</UpdateListItems>
</soap:Body>
</soap:Envelope>
But in the response back the field is not changed and the original data is written back to the file causing a new version. I really appreciate the help. What else should I be looking for?