Why should you care? Because Office Home is WAAAAY cheaper than other versions at about US$160 CDN$190.
Do I need to have a student in my household in order to qualify to purchase and use Office Home and Student 2007?
Are there license restrictions to Office Home and Student 2007?
Yes. Office Home and Student 2007 is licensed only for noncommercial use by households. It cannot be used in commercial (business) situations.
As a small business, can I use Office Home and Student 2007 at my work?
No. Office Home and Student 2007 is licensed only for noncommercial use by households.
Note that I don’t see Outlook 2007 in the Office 2007 Home and Student Edition in any of the Microsoft lists http://office.microsoft.com/en-us/suites/FX101635841033.aspx I can only assume that is because MS has completely re-written Outlook Express (now called Windows Mail, which will come with Windows Vista) and they think you will be happy with that.
Visit http://www.microsoft.com/athome/techguarantee/northamerica.mspx to order your Office 2007 upgrade direct from Microsoft.