Instead of downloading the full installer and doing an uninstall / reinstall, what I normally do is download all the zip files that I need and unzip them into the proper directory. Then I open an LLBLGen project, regenerate it, and recompile it. If all goes well, I assume my upgrade went well.

I have 3 development machines in my environment, and I need to get them all up to the same version. Can I simply copy the directory from the newly upgraded machine to all of the other development machines?

Yes.

The installer simply does an XCOPY deployment, and adds registry keys for the paths to the runtimelibraries so vs.net can find them when you add a reference.

If you've already installed the code once, you already have the registry keys