This presentation, given by an escalation engineer at the Microsoft Office SharePoint Server conference in March 2008, provides valuable information about the different types of software updates that Microsoft releases for Windows SharePoint Services and Microsoft Office SharePoint Server. Using Service Pack 1 for Windows SharePoint Services 3.0 and Office SharePoint Server 2007 as an example, Daniel Winter provides detailed information about pre-upgrade steps, deploying the upgrade, validating the upgrade, and troubleshooting the upgrade.
This video is approximately 1 hour and 15 minutes long.

Download details: Office SharePoint Server 2007 video: Understanding and Deploying Hotfixes, Public Updates, and Service Packs