> How it compares is that it actually works when WAN links go down.  For an 
> explanation as to why google for multicast dns.


http://support.microsoft.com/default.aspx?kbid=263558

Default IE version 4+ DNS cache timeout is set to 30 minutes as indicated in
the above KBA, though it does not mention IE7. So further testing or
research would be needed to determine IE7 default values.

Apparently someone even wrote a little app to modify this and related
settings.
http://technize.com/2007/07/11/how-to-change-internet-explorer-dns-cache-kee
palive-and-server-info-timeouts/

Obviously that is not a viable solution when you don't control the end users
systems.

For web applications using web based failover (with or without round robin
load balancing) you can something like those fancy appliances that come with
Foundry Server Irons, F5 Big IP, Citrix has one, and others but they do not
do anything remarkable as already indicated. All they do is modify DNS
packets on the fly, with a low TTL of like 5 seconds, usually based on
frequent health checks to said application. For maximum reliability you have
more than one of these appliances, at least one at two different geographic
hosted sites and you point the NS records for the (sub)domain in question to
these appliances. This type of service is commonly called Global Server Load
Balancing (GSLB). 

I have written a script to mimic this type of behavior. It runs an HTTP
health check and looks for a particularly defined response. If it fails to
receive the desired response it modifies the DNS record(s) to use the
"failover" address(es). On a later health check that does receive the
desired response it modifies the DNS record(s) to use the "primary"
address(es). 

If you do a google search for GSLB you will also find this page.
http://www.tenereillo.com/GSLBPageOfShame.htm


If DNS SRV records were even to become fully utilized and integrated into
all/most internet applications that would be really awesome and remove the
need for many of these failover/loadbalancer applications and appliances.
The likelihood of this happening is pretty negligible I think. I would bet
on IPv6 becoming mainstream long before DNS SRV records.