For those Windows users who simply must have everything, Windows 7 Ultimate offers all of the features from Enterprise edition but loses the volume licensing requirement.
So you can think of Ultimate edition as Enterprise for consumers (and other retail customers). Windows 7 Ultimate is kind of a wild-card. It is available at retail and with new PCs, but Microsoft says that it will not be heavily marketed and will instead be "offer-based" via occasional promotions and offers from both PC makers and retailers. That said, the pricing isn't as bad as anticipated. I wouldn't be surprised to see Windows 7 Ultimate sell better than its predecessor.
These shots depict the final, shipping version of Windows 7 Ultimate.

The Windows 7 Ultimate default desktop.

Due to its mixed-use design, the Windows 7 Ultimate Start Menu is pre-populated with consumer- and business-oriented tools.

The Getting Started Jump List.

All Programs in the Windows 7 Ultimate Start Menu.

Windows Explorer.

Action Center.

Windows Media Center.

Calculator, Snipping Tool, Windows Gadget Gallery, and Sticky Notes.

The 32-bit and 64-bit versions of Internet Explorer 8, side-by-side.

Windows DVD Maker and Windows Media Player.

Windows DVD Maker and Windows Media Player, the latter in Now Player mode.

Windows Update.

WordPad and Math Input Panel.

Ease of Access Center.

Games Explorer, Minesweeper, and Chess Titans.

Create a System Repair Disc utility, Windows Backup, and System Restore.

Disk Cleanup and Disk Defragmenter.
Source: winsupersite
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