When using the requirements level estimates to drive the total estimate on the feature level we would like the feature level estimate to be reduced when a requirement is marked in a complete status. Also we would like to have the feature status automatically update to complete when all the requirements are complete.
Thank you for your idea. Both of the ideas mentioned are currently possible. When setting up capacity planning, be sure to select your remaining estimate preference. By selecting "Add as logged time", the remaining estimate for a feature or requirement is automatically logged as work done upon shipping. This article provides more detail.
Once all requirements have been set to a status with the category of Done, this will also update the status of the feature. This article provides more on setting up custom workflows.