Private Fedora repository

[Frank]

I've tried searching for the answer to this question, but "Mirror" and 
"Repository" are pretty commonly used words around here.

I'd like to setup a private repository for personal use.  I have several 
machines on a network served by a satellite connection which places a 
pretty low limit on what I can download before I get throttled.  Because 
of that, updating a newly installed FC3 machine already takes days and 
much effort.

I'd like to have one of the machines maintain a repository of all 
updates and then point the others machines at this local repository.  
This will be good for me, and good for the public mirrors as well.

Can anyone point me to directions for how to do this?

Frank.