The client profile is available as Windows Update for most Windows operating systems. This makes it easier for organizations to bring it to their enterprise using, for example, SUS, and for consumers to easily install it.
To get the full profile, you need to download and run the standalone web installer or the complete NetFX installation package.
See this answer for which the OS already has .NET, and which versions are pre-installed. Any OS that does not come with .NET 4 will need to preinstall it before running the .NET 4 application, and the client profile will simplify this process.
In my $ DAYJOB, we try to target the client profile whenever possible, mainly because the additional applications that come with the full profile are rarely needed for client applications; however, if we need System.Web material, for example, then we will not lose sleep over it and just aim the full profile and move on. This adds some deployment complexity, but that the cost of a compromise you have to pay for additional features.
FYI: we always need to install the .NET 4 Framework on new client PCs; I do not think that we are faced with a corporate client who has already installed it. Presumably, this will change as .NET 4 applications (and / or Windows 8 that were pre-installed) get more widespread use, but by then .NET 5 applications will begin to ship and the loop will repeat. Regardless of which one of you or someone else will always be the first to distribute .NET on a PC, you should be prepared for this.
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