Full will include AV/AS, PTP and NTP
Basic will provide AV/AS.
Is this just the client install minus the virus defs? YES
Are the clients still placed in the folder I specify on the export screen? YES
what other things are stripped out? Policy config until it checks in? its exported with the policy as well , it will take defs when it talks to the manager
Deciding which features to install on the client
http://www.symantec.com/business/support/index?page=content&id=HOWTO55369