>>I think that you are in worse shape concerning the rank of the page because each URL is brand new and has no previous click throughs and no external link references. Your page will show up 100's of times but always on page 25 of the search results.
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>We have a big increase of hits recently. But, in the long run, yes, that might apply. I am wondering about those sites doing the same if they store the encrypted link of each record into a field and use the same link for every page generation for each record.

I'm a little confused with the terminology. By field do you mean something inside of the HTTP Header instead of part of the address? And when you said a static page, did you mean that the skin/container/layout is static and the content is queried from a database?

It is better to have some kind of unique address for each separate 'record'. This can be a URL + querystring or it can be part of the URL. I mean that "http://www.levelextreme.com/wconnect/wc.dll" is the URL, "http://www.levelextreme.com/wconnect/wc.dll?5,2,5244" is the URL and the querystring, and "http://msnbc.com/123774/" is a URL with the querystring embedded into it. As long as each of these resolves to a single web page with relatively static content within the page then you are okay.