It’s time for a bit of a reality check regarding the “zero-day” bogeyman. It makes for great headlines, but a new report from Microsoft shows that the frightening menace of the zero-day is more urban myth than reality.

The Microsoft Security Intelligence Report Volume 11 is filled with valuable information about the current state and general trends of information security threats. This report focuses special attention on one particular aspect of security, though–the dreaded “zero-day”.