Just saw that Microsoft have posted a new KB article describing the patching of Configuration Manager 2007. So this will serve as a summary of SCCM patching information I come across. This is mostly for my own documentation but hopefully someone else will find it useful as well.
System Center Configuration Manager 2007 Hotfix Installation Guidance.
This article describes the general patching process of SCCM, how patches are released from Microsoft. What the different installation flags are and how they should be used.
http://support.microsoft.com/kb/2477182
RSS list of all KB articles regarding SCCM.
Subscribe to this, nuf said 
http://support.microsoft.com/common/rss.aspx?rssid=12769&ln=en-us
Automatically Populate the PATCH Property for the ConfigMgr 2007 Client Installation
Original script for installing hotfixes on clients by Michael Murgolo.
http://blogs.technet.com/b/deploymentguys/archive/2010/08/13/automatically-populate-the-patch-property-for-the-configmgr-2007-client-installation.aspx
Automatically populate the SCCM Client Patch property during OSD
My version of the hotfix install script and description how to use it.
http://myitforum.com/cs2/blogs/matbe/archive/2011/09/16/automatically-populate-the-sccm-client-patch-property-during-osd.aspx
Automatically populate the SCCM Client Patch property during OSD
More info from Chris Nackers and links to some other posts about Client Patching.
http://myitforum.com/cs2/blogs/cnackers/archive/2011/09/16/automatically-populate-the-sccm-client-patch-property-during-osd.aspx
ConfigMgr Client Hotfix Versioning.
Good writeup by Jason Sandys on versioning of client hotfixes.
http://myitforum.com/cs2/blogs/jsandys/archive/2011/09/16/configmgr-client-hotfix-versioning.aspx