For example, I want to create and store versions of images in DAM. When the image or its meta is updated, I want to publish a new version.

In DM, I want to create a document with a References relationship to that asset (so that multiple different documents can reuse the asset). It looks to me like if I change and publish a new version of the asset, the (unpublished) DM document will now refer to the new version, not the original version.

Is that the correct behavior? If I publish a DM document, how can I ensure that the document will reference the version of the asset that was available when I published the document? By default, publishing the DM document does not bring over the relations. Or, am I attempting to use the asset incorrectly (i.e. I shouldn't be using relations).