Not all updates should be slipstreamed, adobe has 2 types of updates, quarterly and security updates. Only quarterly updates should be slipstreamed. To see which updates have which type, please check http://kb2.adobe.com/cps/498/cpsid_49880.html.

The following thread has information about a common .net error (PDAPP.exe error) sequencing Adobe products:

steps
 application configration phase
 1. Launch Photo Shop Elements 9.0.exe
 2. Exit PSE9.0.exe
 3. Click Next button
 4. Click Finish button
 5. open explore.exe 
     copy directory (Overwrite all)
     From c:\Program Files\Common Files\Adobe\OOBE\PDApp\core\Microsoft.VC90.CRT
     To Q:\<PACKAGE_ROOT_DIR>\VFS\CSIDL_PROGRAM_FILES_COMMON\Adobe\OOBE\PDApp\core\Microsoft.VC90.CRT
 6.delete .config files
     Q:\<PACKAGE_ROOT_DIR>\VFS\CSIDL_PROGRAM_FILES_COMMON\Adobe\OOBE\PDApp\core\*.config
 7. finish

This problem is that perhaps, DLL of the version difference is in the Microsoft.VC90.CRT folder. 

Also, note when considering sequencing Adobe Acrobat that the physical Adobe PDF Printer can't be virtualized. Even if some package could be put together to install the Adobe PDF printer outside of virtualization (Adobe doesn't have any documentation that I could find on this) there are also Adobe IE-plugins that are necessary to print directly from IE to the Adobe PDF printer.

Since I've had to package this and it has millions of updates now that we're in 08/2013 here is what I did, using information from other users:

Went to licensing.adobe.com and downloaded the .exe for Adobe Acrobat Pro 9 (I just stuck it on C:\Packages\)

Went to http://www.adobe.com/support/downloads/product.jsp?product=1&platform=Windows and downloaded every update there is between 9.0.0 and 10.0.0

Went to http://www.adobe.com/support/downloads/detail.jsp?ftpID=3993 , downloaded and installed the Adobe Customization Tool 9. 

Extracted the Acrobat Pro 9 .exe - I just used WINRAR, I didn't use the command line option. 

Go to the Extracted folder and go into the Adobe Acrobat 9 Pro folder, Copy the AcroPro.MSI, Data1.cab, and Setup.ini - I put them in a nice folder called Release. 

Press Start, navigate and launch Adobe Customization Wizard 9, open and navigate to the AcroPro.MSI in the release folder. 

For the most part you will probably have specific requirements for what options you will use, so go down the panels making your adjustments in the Wizard... Once satisfied if your options create the transform. 

That was pretty much it for what I did. Right now you would have a Release folder with these files: 

AcroPro.MSI

AcroPro.MST 

Data1.cab

setup.ini 

I then copied all of the .msp updates to the same release folder. (23 .msp files). 

That's your package set. 

COMMAND LINE: 

The command line is a b****. You have to do: 

MSIEXEC.EXE /I "AcroPro.Msi" TRANSFORMS="AcroPro.Mst" /Update AcroProStdUpd910_T1T2_incr.msp;AcrobatUpd911_all_incr.msp;AcrobatUpd912_all_incr.msp;AcrobatUpd913_all_incr.msp;AcrobatUpd920_all_incr.msp;AcrobatUpd930_all_incr.msp;AcrobatUpd931_all_incr.msp;AcrobatUpd932_all_incr.msp;AcrobatUpd933_all_incr.msp;AcrobatUpd934_all_incr.msp;AcrobatUpd940_all_incr.msp;AcrobatUpd941_all_incr.msp;AcrobatUpd942_all_incr.msp;AcrobatUpd943_all_incr.msp;AcrobatUpd944_all_incr.msp;AcrobatUpd945_all_incr.msp;AcrobatUpd946_all_incr.msp;AcrobatUpd947_all_incr.msp;AcrobatUpd950_all_incr.msp;AcrobatUpd951_all_incr.msp;AcrobatUpd952_all_incr.msp;AcrobatUpd953_all_incr.msp;AcrobatUpd954_all_incr.msp;AcrobatUpd955_all_incr.msp /QN

For SCCM. If you're doing a test on a local machine or VM, you will have to put the location of the folder in the command line, for each .msp too. Annoying. 

Notes: 

I don't like to add the REBOOT, ALLUSERS, etc into the Command line, I add them into the .MST Property Table. 

TA DAAA!!!

When virtualizing Adobe Professional 9.x with App-V don't open LiveCycle as it will capture the creation of the 'Fragments' directory within the current profile. This will cause a one-time error when running LiveCycle as a virtual app since the 'Fragments' directory will no longer be present.

For an easy step by step guide on Adobe Acrobat 9.5.1 deployable through GPO, while also being customisable, see:

http://www.itninja.com/blog/view/the-path-of-least-resistance-adobe-acrobat-9-5-1

For an easy step by step guide on Adobe Acrobat 9.5.2 deployable through GPO, while also being customisable, see:

http://www.itninja.com/blog/view/how-to-deploy-adobe-acrobat-9-5-2