One more thing, what does .NET Framework actually do?
It basically provides a bunch of functions and classes (just classes, actually. But whatever.) for programs that use the .NET framework to make things more centralized and easier to update, and make the programmer's job easier. In theory.
Example With .NET:
Program: Hey computer, how do I make a window?
Computer: Hey program, just check this stuff out.
Program: Cool.
Example Without .NET:
Program: Hey computer, how do I make a window?
Computer: what the hell
Program: FUUUUUUUUUUUUUUUUUUUUUUUUUUU-
I dunno, I think some stuff ends up embedded in the exe or something. I'm no expert on the subject, but yes, it is nice to have the latest version of the .NET framework if you want to use .NET apps.