So... I opened the launcher and it asked me if I wanted to install patch 1.2. I said yes and it proceeded to download the patch. The launcher now says Patcher_1.2 is ready to be installed.

So... Where is the file or how do I actually install it?

Seriously... This launcher has been nothing but a pain...

Figured it out.

*facepalm*

Had the same problem. No place gave me the option to install it, so i just went an downloaded it manually

Just in case others with the same problem find this thread, I have Windows XP and found the 1.2 patch in My Documents->Witcher 2 (there should be 3 folders in there, Config, Downloads, and gamesaves) ->Downloads

I had forgotten to set the launcher to run as an admin on my system, so win 7 wouldn't allow it to install the patch. After changing it to run as Admin, it installed.