Also check out the FAQ.
http://www.e-smith.org/faq.php3#8q1* What updates should I apply to my SME Server?
"Official e-smith updates are found in the updates directory on our FTP server.
SME Server updates are made available as Software Blades to ServiceLink-enabled servers."
In the past, the updates have been made available as Blades to everyone. It looks as though that has been discontinued. You should plan on installing the updates manually, and if they do happen to be available via Blades then consider it an added bonus.