re:
If you have anything other than W7 starter, W7 home basic, W7 home premium you will get Windows 10 Pro.
Yes, you can run Virtual machines in Windows 10 Pro either via Hyper Visor or something like VMware Player.
Also in Windows 10 Pro you can use group policy to change Windows update settings.
In laymen terms:
W7 Starter, Home Basic, Home Premium -> Windows 10 Home (No native ability to run virtual machines will need to use something like VMware player)
W7 Pro, Ultimate -> Windows 10 Pro (able to run virtual machines natively).