You might want to investigate the kmod-nvidia driver from ELRepo as this will survive kernel upgrades. Your current procedure will break every time there's a new kernel. [by TrevorH]
The ELRepo repository packages the nvidia drivers in a kernel independent manner such that they survive a kernel upgrade. Look for kmod-nvidia at ELRepo. [by TrevorH]
Just now I ran yum update. There was an error message to the effect that the latest nvidia kmod (kmod-nvidia-3.6.1-1.fc17) didn't match the latest kernel, which is still in the 3.5 range.
So I reran yum excluding kernel and kmod-nvidia.