In Drupal 7, Features is one option for deploying Rules and changes to them. Now there is another alternative. As of version 7.x-1.10 of Hook Update Deploy Tools, the module adds the ability to use Drush to export an existing rule from a development server, commit it to version control, then deploy it to a production server using hook_update_N().
Of course being a method from HookUpdateDeployTools, it brings with it the standards of the module: