[CentOS] Can you install from local updates?

Wed Jun 25 20:42:23 UTC 2008
Robert Moskowitz <rgm at htt-consult.com>

I normally use http install to access my /centos/ver/os/i386 repo.

Is there someway to get the install to include the updates in 
/centos/ver/updates?  It seems such a waste to install rpms that you 
know are already fixed....