I haven't had a problem yet with using the ouside spigot during the cold. It's largely protected as it connects through a couple inches of masonry into the basement plumbing. I have never turned it off in the winter and have never had trouble.
Probably tempting fate by posting this though.
On Tap: 1. Kelly R. IPA, 2. Roter Hund Hefeweizen, 3. Bud Killer Blonde, 4. Red Dog Pale, 5. Roter Hund Oktoberfest, 6. Pumpkin Ale, 7. McRed's Stout (with new nitro system and stout tap,) Cream Soda, 8. ESB # 3, & 9. Ordinary Bitter.