John,
Have your Office installation CD handy. (The first CD of the set.) Put it in the CD / DVD drive before the install phase of the update.
Make sure to tweak 2 things.
Refine settings in Internet Explorer browser. Add the following
http://windowsupdate.microsoft.com
http://update.microsoft.com
http://download.windowsupdate.com
to the trusted sites list in the Internet Options.
To access the Exceptions settings.
1. Open Internet Explorer browser
2. Click Tools / Internet Options
3. Click the Security Tab
4. Click on the Trusted Sites Icon
5. Click on the Sites button
6. Unselect the check box "Require server verification (https

for all sites in this zone"
7. Add all sites listed above
8. Apply changes.
Do this to tweak the pop-up blocker in I.E.-SP2 browser.
From Internet Explorer main menu, select Tools, then Popup blocker, then popup blocker settings.
For address of Web site to allow, type in
*.microsoft.com
Press Add, then press Close.
That last part is to insure you see the prompt to insert Office CD.