I'm open to feedback on how best to manage this sort of thing. One possibility is to create a new Item with the new name, we can move over the references in the database I've mentioned, and leave the old page with just a link forwarding to the new page (possibly even an automatic redirect, though I'm not sure if that'd work in a member submission view script).
The database has a RelocatedPages table. Just add an entry that includes its old URL and its new ItemID, and the 404 script will take care of the details.
The database has a RelocatedPages table. Just add an entry that includes its old URL and its new ItemID, and the 404 script will take care of the details.