I think I may have found the answer to my own question in the ESRI ArcGIS Help Library where it says "not all layer properties are accessible through the Layer object. There are many properties available in the ArcMap Layer Properties dialog box that are not exposed to the arcpy scripting environment (e.g., scale ranges, display properties, field aliases, symbology, and so on) ()."
I am guessing this means that if I want to perform this type of scripting I should consider .Net ArcObjects instead. Anyones feedback on this is appreciated if I am not on the wrong track. I am new to these technologies.
Thanks,
Derek