What is a Windows 7 Family Pack? It’s a discounted 3-user pack of Windows 7 Home Premium (upgrade versions). Available for $150 from Microsoft (or $140 from Amazon), you’ll save $200+ if you’re upgrading 3 PCs!
Already running Windows XP or Vista? Then you’re eligible for this upgrade offer (Vista can be upgraded using Windows 7, but XP will require a clean install).
Is Home Premium the right version for you? Unless you need to join a domain (mostly corporate networks), or require XP mode, then yes it probably is. Do you need 32-bit or 64-bit? Don’t worry, they are both included.