Now we have .NET framework 4.5.1. Just curious to know whether the 4.5.1 is also an "in place upgrade" for 4.0 and 4.5?
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It is, check this article at MSDN:
The .NET Framework 4.5.1 is an in-place update to the .NET Framework 4.5. The .NET Framework 4.5 and .NET Framework 4.5.1 replace the .NET Framework 4. When you install these versions on a system that has the .NET Framework 4 installed, the assemblies are replaced.

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