If you wanted to put Microsoft under a microscope from 2003-2010, during the time where they were actually putting in the work to transition from a 1990's software security practice to a 201x security practice, you'd find plenty of "smoking guns" to win arguments with on message boards.
TL;DR: you probably won't notice unless you are looking for bugs in their products, and trying to write exploits.
You will certainly not notice any improvement in their "creative" apps.
But these do not really form a part of most people's "internet attack surface". The priorities are Reader and Flash. Perhaps AIR.
Adobe Reader X is a lot more secure than Reader 9 was. The bugs are still there - many Reader 9 bugs affect X. However, exploitation is much harder, and I haven't seen anyone get reliable code execution in X yet.
They are supposed to be working hard on Flash too, although I haven't looked at that recently. I remain unconvinced that Flash is actually fixable, but perhaps they could win with strong enough sandboxing and exploit mitigation...