The second Release Candidate build for the FreeBSD-7.4 release cycle is available from the FreeBSD website for testing. ISO images fcan be downloaded from most of the FreeBSD mirror sites. Check out the official announcement for further details about this release.
The original release date 24/1/2010 – today) won’t be achieved as per the 7.4 releng page. There’s yet a RC-3 to be announced, but quality is more important than sticking to dates and releasing an unfinished product with bugs.