Awash with buzzwords and over-hyped fad terms (you say 'cloud', I say 'someone else's server') the overall effect is to confuse rather than enlighten. Unfortunately they haven't been very clear about the licensing differences, with pages upon pages of marketing bumpf aimed at purchasers and not professionals. With the introduction of SQL Server 2012, Microsoft has overhauled their existing per-processor licensing model to recognize that many customers are now using multi-core servers in both physical and virtual configurations.
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