Since, Adobe Reader 10.1.0 is a full Reader i.e. its released as an MSI, you will have to use the same to update your prior installation of Adobe Reader 10.0.1 to Reader 10.1.0.
You can use the MSI from: ftp://ftp.adobe.com/pub/adobe/reader/win/10.x/10.1.0/en_US/AdbeRdr1010_en_US.msi
This should automatically remove your prior installation and install Reader 10.1.0 on your system.
On another note, please avoid updating an AIP installation with direct application of patches. The method is not advised. You should only use another AIP to update a prior AIP installation as is mentioned at: http://kb2.adobe.com/cps/837/cpsid_83709/attachments/Acrobat_Enterprise_Administration.pdf
Hope this helps
I'm confused Ankit...the Enterprise Administration Guide you linked actually explains how to use an AIP and how to patch it with MSPs. Perhaps that was only valid for 9.x products? I am used to the AIP and MSP method with the 9.x versions. Can you tell me how I am supposed to keep my installation points up to date, as well as patch my current installs? Am I supposed to perform a full version installation every time a new patch is released? Is this the same for Acrobat Pro 10.x as well? Thanks!
That is exactly what they're saying. The patch cycle is broken and they won't fix it. You'll have to do a complete re-install of all of Adobe on thousands of PCs for every patch cycle just like everyone else does.
Deal with it.