Now for a quick runthrough of every version.
Windows 7 Starter is for emerging markets mostly, but also for some netbooks as an option. It's pretty gimpy, and only runs three apps at a time, though it'll have the new taskbar, Device Stage and jump list. Since Home Premium (and even the Ultimate beta) runs pretty well on netbooks, most of them are probably going to stick with that, so don't worry too much about it.
Windows 7 Home Basic is for developing markets only.
Windows 7 Home Premium is the standard consumer offering of the OS with Aero Peek, Media Center and all the other cool features we've been talking about, and what most people will be running, whether they're on a desktop or a netbook. It's better at media than Vista Home Premium, since it ships with DVD playback and codecs like DivX out of the box. In case you're wondering why Microsoft kept the "Premium" tack-on despite the extinction of Basic—it's because in market testing, Vista...