CyanogenMod Updater Goes Live, Automatically Updates Your Current Build
CyanogenMod users are going to pleased with this news as the CM team announces CM Updater. In quick and easy terms, CM updater provides an option to automatically check for updates and install if one is available, just like an over-the-air update from your carrier. This is very similar to what ROM Manager does, but now this is going to come straight from the CM team.
For now, this is only works with CM10 and it doesn’t replace a custom recovery, so make sure you still have ClockWorkMod recovery installed. To find the updater, just go into Settings > About phone > CyanogenMod updates. You can choose the type of update, if you wanted to stay on just stable releases for instance.
This is a great addition to CyanogenMod 10 releases and it provides yet another benefit to rooting your Android device all while making continued updates of the every popular CM releases accessible.

Does this wipe out all the data on your phone, or will your data (apps, sdcard, settings, contacts, etc) remain after each update?
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