Does the MAS, like it's iOS counterpart, have to download the WHOLE app all over to update?! When will Apple allow patches to be downloaded and installed?
Patches are common for bigger apps but most smaller apps make you re-download the entire thing. The app store is full of these small apps, I honestly did not think of this as a problem until you pointed it out but now that you mention it, delta upgrades would be nice.
When an update is available for an application, the Mac App Store makes efficient use of bandwidth, delivering only the data that is different from the previous version.