I see both .exe files were updated today, 2012-05-25, and the patch_compressed.vpp_pc file gained 46 new files, mostly starting with the word "billboard", 0 files changed.
They added promotional billboards in the city for their upcoming standalone expansion thing. Stay classy.
To correct what i said before editing this post, the Gentlemen of Steelport mod still works in "patch style" mode. You just don't see the new billboards. If you use "loose mod" style, you should get them.