Just to clarify a bit, when using action="edit" you need to specify exactly which item you are editing. The most common way to do this is by setting the id attribute, like this:
<Item type="Part" action="edit" id="8AD6FC0422494CD3BF5D5CD4204E7F74" >
If you don't have the id of the item, the next best way to do it is with the where attribute, like this:
<Item type="Part" action="edit" where="[PART].item_number='801-0150-70-01' and [PART].is_current='1'" >
The "is_current" condition just makes sure you are editing the latest version of the Part.
Rob