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Version 1.1 of CCK Taxonomy Fields
Blog by Robert DouglassJune 26, 2007 - 5:16pm
I've released the DRUPAL-5--1-1 version of the CCK Taxonomy Fields module. This module allows you to use the lists of terms built with taxonomy module as fields on content types using CCK. This has the advantage that you can name the field anything you want, can customize the field's meta data, and can add multiple fields based on one vocabulary to the same content type. These fields integrate with Views. There is Token module support.
This release fixes Views integration and guarantees that hierarchical taxonomy lists are represented correctly wherever they appear.
I'd appreciate it if CCK/Views savvy developers would help me with the feature request to add sorting to the Views integration. I'd also like to receive a patch that adds freetagging vocabulary support.

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Drupal Podcast No. 48: Taxonomy Taxonomy Taxonomy!
FYI:
CCK Taxonomy has been explained a bit in the fantastic podcast #48 (around 1:21min)
http://www.lullabot.com/audiocast/podcast-48-taxonomy-taxonomy-taxonomy