I rebuilt my system back on Oct 17th. I have SP1 built-into my install media for Windows. I also have SP1 for Office 2010 built-in as well.
However, I still had to install 141 updates! The picture may be hard to see everything installed, but that is all the updates I had on my system for Office 2010 after SP1 and Windows 7 after SP1.
The breakdown for me for each group is below
• CAPICOM: 1
• McAfee VirusScan Enterprise: 1 (Patch 2 for VSE 8.8)
• .NET 4 Client: 8
• Office 2010: 39
• Silverlight: 1
• Windows: 91
This is why a "update rollup" would be nice.
--Brian