Boot Camp essentially does three functions. One, it partitions your hard drive. Two, it creates a driver CD for your particular Mac, three, it emulates a BIOS for you to be able to install Windows.
Once you've actually installed Windows, there's really no reason to ever start up Boot Camp within OS X again unless you want to get rid of Windows. So unlike other pieces of beta software, you won't be interacting much with Boot Camp itself as much. So once you have it setup, the only time you'll use Boot Camp is when you choose which partition to boot into.
As for upgrading or reinstalling. If you have a copy of Windows installed and everything seems stable, there's really no need to upgrade while you're running Tiger. Leopard is expected to have the final version of Boot Camp built right in. I'm not sure if you need the entire hard drive when upgrading Mac OS X or if you can select partitions. If the latter, then you can probably keep your Windows installation intact and the final version of Boot Camp will just detect it at first launch. If not, well then everyone knows a fresh start to Windows is always a good idea. :black: