From FreeBSD mailing list :

FreeBSD 7.0 RC 1 available for download.

Some information that might useful for upgrading :

1. Use source, just point cvsup to RELENG_7_0

2. Use freebsd-update utility with two options available :

     1. Minor upgrade

     2. Major upgrade

Ready to grab FreeBSD 7.0 RC1, get now via :

1. Torrent, click here

2. ISO download, click here

New year gift from FreeBSD developer