hi
kmesser,
i may be wrong but let me ask u why u used the REPLACE function if only u want to update all the rows with 'DUCK' where it is 'EDGEWATER POND'.
u can also use the simple update statement like..

update tablex set column_name='DUCK' where
column_name='EDGEWATER POND';

pls tell me if u have any other thing in mind....

thanks
pras