As a short follow up to my previous post On my laptop I had already installed the update for Web Application Projects so I had to uninstall it prior to installing SP1 (thanks Dave). After going through all of that I was never able to re-install WAP so I assumed it was part of SP1.
I'm still settling in on my new project and so I tried to open the solution file that had one of the web projects and I got an error that told me it wasn't compatible. I'm sorry I didn't get the actual error but it was something that let me know that the web project was saved using WAP. I did not have WAP installed on my new work machine so I installed SP1 and that fixed it straight away.
So I guess WAP is part of SP1.
Giddy Up!