Makes it easier to keep your source up to date. Notifies you when you are behind source control and eventually will be able to keep you up to date with no user intervention.
We've all had annoying merges (.sln files, I'm looking at you!) because we didn't have latest. We may also know some people who almost never get latest. Our source should be up to date without having to do anything.
Almost there...
MIT license - http://www.opensource.org/licenses/mit-license.php