Having the same problem here. Even if not creating an AIP, and instead doing a standard install of AcroPro.msi and patching with 11.0.10's msp, it'll result in a registration loop that can't be skipped.
Applying an Adobe ID allows for getting through the screen, but obviously, in an enterprise environment, that's not ideal.
This issue was something that I experienced with 11.0.07, and it went away with 11.0.08 and 11.0.09, but seems to have returned with 11.0.10.
Previously, I was able to get around the issue by clearing out some files from the Common Files\Adobe directory, particularly Adobe PCD and SLCache, as well as including the Adobe regids stored in ProgramData,but that fix no longer works with this latest version.
If REGISTRATION_SUPPRESS is set to YES, the result is Acrobat closing and opening in a loop, since it can't get through the registration screen.
I'm currently investigating for a registry key that might possibly applied to circumvent this issue, but I haven't found one yet.
For Adobe Acrobat 8, it used to be stored in the following two places, per Prompted to register repeatedly | Acrobat 8 | Windows
32-bit Windows: HKEY_LOCAL_MACHINE\SOFTWARE\Adobe\Adobe Acrobat\8.0\AdobeViewer
64-bit Windows: HKEY_LOCAL_MACHINE\SOFTWARE\WOW6432Node\Adobe\Adobe Acrobat\8.0\AdobeViewer
However, the registry structure seems to have changed since then.