nVidia's original strategy (pre-GeForce2 Ultra) was in releasing a new architecture in the fall, and a refresh part in the Spring.
The refresh part generally was a slight redesign of the fall-designed part, usually with performance optimizations.
Later on, it appears that nVidia aligned their new architecture cycle with the availability of die shrinks. This dropped nVidia back to an 18-month new architecture cycle, but nVidia still kept up with one "mild redesign" of their parts inbetween (Talking only about the high-end parts here, of course...), which lines up better with what was previously termed a refresh.
Basically, many people have been refusing to call the "clock bumped" parts refreshes as that's all they did. The previous refreshes from nVidia did more.
As a side note, while nVidia has fallen back to an 18-month new architecture cycle, ATI has stayed on a 12-month new architecture cycle.
In the coming year or two, will nVidia accelerate back to a 12-month new architecture cycle, regardless of a lack of availability of new process technology? Will ATI drop back to an 18-month new architecture cycle themselves now that they have cought up to nVidia? It could be interesting...but whatever happens, if ATI starts to consistently put out better parts (which I still consider unlikely, btw), I just hope they get their driver act together.