Hi Jeremy,
I’m sure by now you’ve gotten a good amount of answers, but just FYI, if you have any Windows 7 questions, the MVPs (most valued professionals) over at Microsoft Springboard site would be really happy to help you and point you to the right resources.
As for answering your questions, I would recommend Windows 7 Ultimate if you aren’t limited in budget, otherwise, the pro should be great for you too! Definitely get XP Mode, it’s perfect for older software (saved me with Pro Tools and my Mbox for music recording).
The Springboard site is located at microsoft.com/springboard and we’re also on Twitter @MSSpringboard
Hope this helps!
Happy Holidays,
Alex
Microsoft Windows Client Team