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Windows 7 Home Premium with Windows Virtual PC & Windows XP Mode,

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OH Smeg

But different functions are activated by the different Product Keys when they are entered.

Unfortunately you are unable to load XP Mode to Premium as this is part of the OS so you need to buy one of the more expensive Offerings from M$ or Upgrade your existing copy of 7 when it eventually arrives.

As for Virtual PC currently M$ is saying that this will be available to download from the M$ Download site but it is still debatable if it will actually work on anything that isn't supported. As 7 is still in Beta Form things may change between now and when it is released so there can be no definitive answers here though it would be a safe bet to say that No you will be unable to use either of these without changing your Core OS.