Hello -
Hopefully you've had some success on getting the updates installed. I encountered this same error when trying to upgrade the adobe reader. Same syntax and all, but the path name was a little longer and it was trying to access the AcroRead.msi file. Trial and error and going through various possible solutions (running as Admin, running under a different user, re-downloading the entire install package, etc) the solution, at least in my case was to locate the installation folder where this file is contained. This basically is your entire "Setup" folder per say for Reader itself. Select the folder, and copy the folder and all it's contents, to another directory, in my case, I just copied it directly to my desktop. I then opened that folder, and ran the Setup.exe file. And... That's all she wrote... installation went without a hitch.... !!
Hope this helps....