In reply to your comment, and the one below, we generally avoid REPLACE INTO and ON DUPLICATE KEY UPDATE. I'm not 100% sure about REPLACE INTO, but the ON DUPLICATE KEY UPDATE syntax definitely causes replication issues, even though it's allegedly been fixed numerous times. This has been observed by us in the 5.0.87 Percona build, as well as one of the recent 5.1 releases. I couldn't tell you for sure about REPLACE INTO, but having been bitten by these things in the past I'm always a little bit wary of these SQL extensions.
As kind of a sidenote to anyone using these features, I would recommend that you regularly run mk-table-checksum against your master/slave databases.[1] This will tell you if there's inconsistent data between the master and the slaves. Depending on the type of error, you may not get replication errors when tables get out of sync, and this tool catches the case where no replication errors occur (e.g. UPDATE that modified data on the master, but failed to modify data on the slave). Running this, or a similar tool, is really the only way to know that the queries you're running are safe, regardless of Internet hearsay or what the MySQL bugzilla says.
[1] http://www.maatkit.org/doc/mk-table-checksum.html