I freeze excess milk in ice cream pails and then make cheese when I have the time. It works out just fine. As my cow is nearly a year into this lactation, she isn't giving as much milk as before and this is the only way I can have enough milk at one time to make a decent batch of cheese. I haven't noticed any differences for cheesemaking.
I don't like previously frozen whole milk for drinking, as the butterfat separates out and stays grainy, but I've been told that it can be warmed to 90 degrees to get the butterfat to melt back into the milk. I am talking about raw milk here, though, and not past/homogenized.
