The download completed and the install commenced for about 45 minutes and included several restarts. The update looks pretty much the same ad before and includes a page of what has been done. Notably, the Win 7 games were deleted, and I reinstalled them; might have been a mistake, as my sound is gone again and I haven't been able to restore it. Will continue to explore the new update and will report back on any successes I experience.
Just wanted to let everyone know that it doesn't necessarily take all day to install the 2004 update. I installed mine in about 2hrs from start to finish. This was on my 9 year old system! (see above specs) Gotta love Gigabyte mother boards. Not a single hiccup since first turning it on. And by the way, I never, and I mean never have I turned it off except for restarts after installing updates or software. Maybe I'm just lucky.
P.S. By the way, the update caused no problems whatsoever!
I believe that my problem involved a recent update of the World Community Grid which kept kicking in during the download/install. It took quite a while, but the update finished and is running properly now.
My sound went on and off after this update. Finally found where it said the drivers with that update were incorrect for my PC. I went to the site it said and downloaded correct drivers and so far it is all good.