I suspect first item listed is the managed PGP Desktop. This means the features available to and the policies used on the client install are those configured in the PGP Universal server. If you are planning on deploying more than a handful of installs, this is the one I'd suggest.
The second item restricts what is available to versions that have completed FIPS 140-2 validation.
The third item listed is for the unmanaged (stand alone) version of PGP Desktop. If you are looking to use PGP Desktop on one or two machines, this is likely the version you want.