  With the many ambitious proposals afoot for new generations of very large
telescopes, along with spectrographs of unprecedented resolution, there arises
the real possibility that the time evolution of the cosmological redshift may,
in the not too distant future, prove to be a useful tool rather than merely a
theoretical curiosity. Here I contrast this approach with the standard
cosmological procedure based on the luminosity (or any other well-defined)
distance. I then show that such observations would not only provide a direct
measure of all the associated cosmological parameters of the LCDM model, but
would also provide wide-ranging internal consistency checks. Further, in a more
general context, I show that without introducing further time derivatives of
the redshift one could in fact map out the dark energy equation of state should
the LCDM model fail. A consideration of brane-world scenarios and interacting
dark energy models serves to emphasize the fact that the usefulness of such
observations would not be restricted to high redshifts.
