YUM - What is happening during update? (FC2 + Legacy)

I use FC2 with UP2DATE. Of course, recently that stopped doing
anything. So I started using Fedora Legacy for updates with yum,
and have pulled some stuff which looks like it was needed.

But now when I do a yum, I don't quite understand what is going
on. I watch my ADSL modem, and my ETHERNET router activity
lights, and what yum reports and what I see seem not to
correspond.

# yum update
Gathering header information file(s) from server(s)
     [activity lights start to flash, disc quiescent]
Server: Fedora Core 2 - Base
Server: Fedora Legacy utilities for Fedora Core 2
Server: Fedora Core 2 updates
     [activity lights not flashing immediately after this display]
     [disc has a few hits]
Finding updated packages
     [still no activity]
     [disc has a few hits]
Downloading needed headers
     [still no activity network activity]
     [about 1 minute of frenzied disc activity]
No Packages Available for Update
     [no activity, disc quiescent]
No actions to take
#

I find this odd. What am I missing?

Mike
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