Most other distros permit larger installations to have their own
package repositories, and this is what would make the most sense. I
understand that Red Hat has a product that will do this, but the cost
is far above the means of someone like Joe.
In addition to the two ways already mentioned, you have both the "Current"
project, and "nrh-up2date" which act as up2date servers. There are a
number of other scripts to download and apply updates from a local mirror
of RPMs (search Freshmeat).
For the RHLP, yum is in Rawhide...