I'm a little surprised this doesn't come out of the box and I can't find it on Google either but I'm looking for a SQL query that will return each machine and it's patch status. For example:
Name Updates Advertised Updates Applied
PC1 250 123
Server1 120 65
Server2 120 78
PC2 210 154
So it would look at each individual update advertised to that machine, regardless of what advertisement it's in, and return a total and how many are completed. Sounds nice and simple... ?