A method is for communicating by tracking time varying channels in a multiple access packet based communication network. Each packet includes a preamble portion including a data symbol, and a data portion including data symbols. The method may include initializing a channel estimate reference from an initial channel estimate based upon the data symbol in a preamble portion of a received packet, and updating the channel estimate reference based upon a channel estimate of a current data symbol and a previously received data symbol from the data symbols in a data portion of the received packet. The method may also include repeating the updating upon receipt of a subsequent data symbol from the data symbols in the data portion of the received packet.