is the regular site. In looking at http:/pbidir.com, I see what you mean. The PBI for PCBSD 8.0 is at the 3.1.6 stage. But the download link for 7.1.1 has not been updated yet even though we know an update exists.
The address I gave you is the PBI build server where little pcbsd daemons come out every day to peruse parts of the FreeBSD ports tree and compare the updated port versions to those used in existing PBI's. Where possible, the build server automatically generates a new PBI. Virtualbox was one of those where there was a port upgrade and the "modules" maintained by PCBSD's development staff made the automatic update possible. (I'll bet we see the new Firefox 3.6.3 on the build server in a few days.)
The recent release of PCBSD 8.0 required major changes to the PBI's. Thus, someone has to build the "modules," download the target FreeBSD port, compile it, assemble it into a PBI, test it, work out the bugs, submit it for approval, etc. That is a lot of work. Those people are probably focusing most of their attention on meeting the need to produce for the PCBSD 8.0 release.
The successful update of a PBI by the build server does not mean the PBI is automatically posted to the pbidir.com main or mirror sites. There is a delay depending on what else is going on, and it may be that the individual responsible for maintaining the PBI (or the individual responsible to maintain pbidir.com) is not available to approve the change in pbidir.com.
Eventually the upgrade will arrive, but now you know where to find the newest PBI's. Additionally, you can expect that PCBSD 7.1.1 will be supported for a significant period of time. Even past editions -- PCBSD 1.5.x have legacy repositories where you can obtain patches and PBI's.
You might consider making the upgrade to PCBSD 8.0, but there may be more PBI's available for 7.1.1 than there are for 8.0 right now. The "if it's not broken, don't fix it" rule might apply here. Some people are properly concerned whether an upgrade will work on their equipment. For the faint of heart, it is good to known that PCBSD 8.0 has a "live" option to boot from the DVD. While it is a little slow in loading, once loaded it runs fast. Therefore you can see if your hardware is going to work.
Other people install PCBSD to a different slice on their hard disk -- or replace their existing hard disk with a spare on which they install PCBSD 8.0. Whether it works or doesn't, you put the original hard disk back in and upgrade it if the newer system works or leave the original disk alone it alone if it doesn't.