If you've read my previous posts on FreeBSD binary upgrades you'll see that Colin Percival's work on this subject has been one of my favorite additions to FreeBSD during the last few years. I recommend reading the latest two posts on Colin's blog for even more good news: FreeBSD minor version upgrades and FreeBSD major version upgrades using FreeBSD update.
I plan to deploy FreeBSD 7.0 in production soon, and the native capability to upgrade the OS using binary means is incredibly welcome. I build sensors to inspect and capture traffic, not recompile themselves. Congratulations and thanks to Colin for all of his work in this area and for integrating FreeBSD update into the base OS.
On another FreeBSD note, I need to try this: Building bootable FreeBSD/i386 images.