I had two restore points immediately before I ran Patch My PC. I checked again after running Patch My PC and it had correctly created a new restore point but deleted my oldest (two weeks ago) restore point. This is not a function of lack of space as I am using less than 5% of the space allocated.
Thanks for reporting, we will look into this.
Today I've had a slightly different problem. I ran Patch My PC and although it sad it was creating a restore point, it didn't create one. I have the log of the Patch My PC run and screenshots of the restore points before and after if these are of any use.