Does this mean that the long poll itself should be dropped and reconnected every 60 seconds? Or is it only talking about the main connection.
Also the long poll request is basically identical to a getwork request except for the different URL and lack of timeout?
When the pool terminates the LP connection, it does so to specify that new work is available. What the pool does is sends fresh "getwork" to the miner and drops the connection. The miner then knows that they should stop working on any previous work, and only proceed with the new work. It also re-esthablishes a fresh LP connection to repeat the cycle.
The 60 second thing varies by miner. Many GPU miners, even on cards incapable of iterating the nonce range in 60 seconds, do multiple getworks per minute. All getwork occurs over normal connections, except getwork "pushed" to the mine when it's previous work is invalidated by the network finding a block.