Serial vs. ICSP?

No, the RBBB usb interface is for programming a bootloaded AVR with a sketch. In use it looks exactly like a Duemilanove hooked up to the USB interface to the IDE. The ICSP interface is what you hook a seperate programmer to to program the AVR directly. You'd use the ICSP for example to burn a bootloader onto a blank AVR chip, something you can't do through the standard USB interface.