[eschwartz]

Updating the PortableApps wrapper works flawlessly. Just drop Kovid's portable installer into the same directory as the PA.com calibre installation, and it will detect it and run Kovid's installer to extract the program binaries etc. Then delete the installer to prevent repeated updates to the same version.
(Alternatively, run the installer and install to a subdirectory of the PA.com calibre installation and once again, the PA.com launcher will autodetect the updated binaries and merge them in. No need to delete the installer itself as you saved it somewhere else...)

@BetterRed, other than relying on Kovid's installer to source the binaries during an application install/update rather than providing their own weekly update, the PA.com version has exactly the same number of complexity layers -- one.