Microsoft Releases 4380 MB Patch

So I went to run Microsoft Update (including Windows Update) today. Look what I found.

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WOW! 248 MB patch download, and it requires 4380 MB of space? What could possibly in this?

Microsoft Description of this .net framework 3.5 SP1

Hopefully this is just the SP1 installer that is being downloaded, and then that will only download and update only the components installed. Perhaps those components installed could include a large API.