Still a preview version (i.e. lots of bugs), but Optifine is available now for 1.7.2

http://www.minecraftforum.net/topic/249637-164-optifine-hd-c8-fps-boost-hd-textures-aa-af-and-much-more/

If you're like me and Minecraft immediately crashes when trying to launch, try disabling your Resource Pack re-run. As is noted on the Optifine thread, there seems to be some bugs with connected textures and doesn't appear to like mine.

As a side note, I assumed with the initial release yesterday that Forge was required (since he noted Forge #982) but it is not. You can simply add the jar via Magic Launcher and avoid Forge/FML all-together. New version was released today and all I can say is that it's gorgeous. Glad to have it available again Now I just need Inventory Tweaks to release and I'll be a happy camper.