When using item.update, the status returned will show True, even if a False state should be returned.
Here is an example where the filename is incorrect for an update of an Excel spreadsheet:
id = "9d299ad2fb664e90b6bfb136396653b2"
item = GIS.content.get(id)
path = "\\\\Example\\Path\\ToSheet\\millage_info.xlxxx"
itemStatus = item.update(item_properties=None,data=path,metadata=None)
print(itemStatus)
print(item.status())
...
True
{'statusMessage': 'completed', 'itemId': '9d299ad2fb664e90b6bfb136396653b2', 'status': 'completed'}
Tested on Python API versions 1.0.1 and 1.2.3
