You need a build you distrubute to be recreatable again should users experience problems that need investigating.
I would not rely on an incremental build. Also, I would always delete all source from the build machine, and fetch it from scratch from the source control system before building a release. This way, you know you can repeat the build process again by fetching the same source code.
If you use an incremental build, the build will build differently each time because only a subset of the system will need to be built. I think its just good to eliminate as many possible differences between release builds as possible. So, for this reason incremental builds are out.
It's a good idea to label or somehow mark the versions of each source file in the source control system with the version number of the build. This enables you to keep track of the exact source that went into building the release. With a decent source code control system the labels can be used to track down all the changes that were made to the code between one release and the next. This can be a real help when trying to track down a bug that you know was introduced between the two releases.
Incremental builds can still be useful on a development machine when you're not distributing the build, just for saving time during the code/debug/test/repeat development cycle.