Great! It looks like I was just a couple of days ahead of this. Daniel Beer updated the mspdebug repo with support for the 5739 shortly after I posted.
Anyway, I can't wait to get this thing up and running. I guess its worth noting for those like me who are new to the 430 line and its GCC toolchain, the best place to get mspdebug is probably Beer's page. I spent quite a bit of time fiddling around with outdated versions before I went straight to the source.
Very good guys. I've got the FRAM dev board too and was just fiddling around trying to get gcc to work. Any updates are greatly appreciated.
By the way, I assume you are using the June 12, 2011 (20110612) version of the compiler, right?