The “normal” set-up for ticket systems is that they have a creator/reporter, assignee(s), and watchers. Creators and/or reporters automatically get added to watchers. Watchers and assignees get notified about changes, and those notifications should be useful; they should contain who made the changes, and exactly what has changed. This should include the full text of any added comment, and a diff of before/after field values for any changes there. (A nice red/green text diff for rich text would be a bonus, so that if someone checks a checkbox in a description field, you just get that diff.)
If someone updates more than one field on a ticket within a small time period, I would expect the notification system to batch those changes together into a single notification (containing multiple field diffs).
The “VIew activity” pane on an entity has all the information you would need to make the notification system really great for watchers. Essentially I’m looking to subscribe to that with a three minute delay to coalesce adjacent updates together.
“{Name} was updated” really doesn’t cut it for us - notifications are honestly the biggest drawback to using Fibery over other ticketing/planning tools for us and very nearly made us not buy the product.