Don't need to do that anymore. Up2date is fairly smart these days, and if you setup a directory [CD, share, etc] and tell up2date that you want it to look in this directory for packages before downloading, you can update any packages that you have on your CD, share, etc. A better thing would be to have a DVD burner handy and mirror a yum server for the updates and burn them to DVD once in a while.
Did you actually read the article? I outlined how to mirror the updates from a fast mirror. The rest (burn to DVD or CD) the OP seemed to already understand.
Thomas