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Old requistions will be linked to OLD BPA (releases/version), When you copy an old requisition in i-proc as a standard functionality system will reflect/copy the old value of the BPA.... The best practise will be (work around), search for the BPA (whose value was changed) and go ahead with the checkout process (create requisition)... Once a requisition is created with the new price list you can copy the same for your future reference.
Hope this helps.
I was wrong.
Oracle is behaving as I expected in that:
1. Create a BPA with catalogue items
2. Create a requisition from catalogue items
3. Change the price of catalogue items in BPA
4. Copy requisition (from 2) into cart and prices reflect updated BPA (changed in 3)