OK, I'm not sure if this is me wanting to use the software in an odd way, or just not experimenting with the settings enough but at the moment things work like this:
I have a podcast set to only keep 2 active episodes.
If a new episode comes out it downloads it, and deletes the oldest episode.
Is there a way for me to have it not download the new episode until I've listened to one of the current episodes without turning off auto-update and having to manage it manually?