<p>What are the benefits of doing static code analysis on your source code? I was playing around with FxCop and I was wondering if there any benefits beyond making sure you are following the coding standards. </p>

actually, fxcop doesn't particularly help you follow a coding standard.  What it does help you with is designing a well-thought out framework/API.  It's true that parts of the coding standard (such as casing of public members) will be caught by FxCop, but coding standards isn't the focus.
coding standards can be checked with
stylecop
, which checks the source code instead of the MSIL like fxcop does.