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ARPE - auto-reload preload enable bit (explained ?)

Question asked by John F. on Jul 10, 2012
Latest reply on Jul 11, 2012 by John F.
The reference manual states, "The contents of the preload
register are transferred into the shadow register permanently or at each update event UEV,
depending on the auto-reload preload enable bit (ARPE) in the TIMx_CR1 register."

No doubt that's true ... but could someone explain why we need an ARPE and give examples of timer operation with and without it please? In other words - what USE is it?