I am now officially confused. The MSDN article on installing the .NET 4.5 framework states the following:
"The .NET Framework 4.5 replaces the .NET Framework 4. When you install the .NET Framework 4.5 on a system that has the .NET Framework 4 installed, the assemblies are replaced."
Why then, do I find the .NET 4.0 assemblies on my file system? When I browse to "C:\Program Files (x86)\Reference Assemblies\Microsoft\Framework.NETFramework", I find several folders, including "v3.5", "v4.0" and "v4.5" containing the DLLs for each version. What up?
This tells me that the assemblies of the .NET Framework 4 is not replaced with 4.5 at all. Can someone clarify this for me, please?
Yes, .NET 4.5 is an in place upgrade, so it does replace the .NET 4.0 assemblies.
See this answer from Hans Passant explaining what the assemblies in the reference assemblies directory are for: Reference Assemblies folder and different assemblies with the same version.