Apparently E.T. is not the only one that is trying to phone home.
Although it appears that no personal information is being sent, I don't believe that is the point.
The main point is that the release notes of 10.4.7 suggest this feature as an option at install time, not a recurrent event.
Personally, I would prefer a better explanation on the release notes and a documented way to turn it off. The first one is a bit too late, but the second one is already documented at mac os x hints website.