Incase you're not familiar with MBSA is a free utility which can be downloaded from <http://www.microsoft.com/mbsa> which you can use to scan systems in your environment to determine where patches are missing and where systems are misconfigured.
Earlier today John Howard posted an entry to his Blog which announced the availability of the MBSA v2 Beta - you can nominate yourself as a candidate for the beta - full details of how to sign up together with the link to a webcast can be found on John's Blog at this link. V2 brings with it integration with the next generation of Software Update Services(SUS) which was going to be known as Windows Update Service(WUS) but is now being named Windows Server Update Services(WSUS).
Full details of the current version of MBSA v1.2.1 can be found here.
There's a detailed paper covering what's new in WSUS located here and a Frequently Asked Questions(FAQ) page located here.