Ken Smith has announced the availability of FreeBSD 7.0-BETA2:

The 7.0-BETA2 builds have completed and are on many of the FreeBSD mirror sites. If you want to update an existing machine using cvsup, use RELENG_7 as the branch tag. Instructions on using FreeBSD Update to perform a binary upgrade from FreeBSD 6.x to 7.0-BETA2 will be provided via the freebsd-stable list when available.

On a related note, the first beta build of FreeBSD 6.3 has also been released:

The 6.3-BETA1 builds got delayed a bit by a last minute MFC (Merged From -Current) causing some undesired ABI breakage. That has been fixed and the 6.3-BETA1 builds for amd64, i386, pc98, and sparc64 have completed.