I'm still running Office 2007, but I plan to upgrade to 2010. If you purchase Office Home and Student 2010, then you'll get Word, Excel, PowerPoint, and OneNote.
If you purchase the Home and Student version, you'll get to install this on 3 home computers. That's right! It is licensed for installation of either version on up to 3 computers.* (don't confuse this version with the Home and Business version - which only works on 1 computer)
*Licensed for installation on up to three home PCs. Not for use in any commercial, nonprofit, or revenue generating business activities, or by any government organization. The license designation for this product when purchased from the Microsoft Store Online is FPP and the Retail License Terms apply to that purchase.