There are two relevant tabs; one is the updater -usually a fairly small download- and the full installer. Often an SR/patch will only show up in one or the other tab, but not both. Other times you can use either.

Using the DLM has advantages; if your connection is lost, you "resume" a DLM download, whereas if you were downloading an installer in the traditional; fashion, you would have to start the download again from zero.

Also, the DLM retains previous versions, so if you update to build X and find that now Poser has problems, you can use the DLM to revert to the earlier build.

Plus, the DLM answers the very question you asked; it shows you whether there is an update or not. I disliked the idea when SM introduced the DLM, thinking it an unnecessary extra step, but now I see it as a convenience.

Poser 12, in feet.  

OSes:  Win7Prox64, Win7Ultx64

Silo Pro 2.5.6 64bit, Vue Infinite 2014.7, Genetica 4.0 Studio, UV Mapper Pro, UV Layout Pro, PhotoImpact X3, GIF Animator 5