just wanted to tell everyone that REPLACE INTO is speeding up my large applications considerably and you should all check it out.
lets say you have a table with a unique key on 5 fields, but you aren't guaranteed that the matching key you want to update is already in the table...
without replace into, you would query the table first, see if the table already has a record, then update if it does and insert if it doesn't. with replace into, it handles all that for you saving 1 query per udpate... and with 100s on a page, it speeds up the application 50%+.