One new networking feature of Windows 7 that aggregates data from multiple sources into a single folder view. This could also be called a virtual folder. Actually, it is an indexed view of multiple data sources.
Because of the new library functionality, many of the common user folders in Windows 7 have been renamed. In Windows Vista you had Documents, Downloads, Photos, Videos, and Music. In Windows 7, these folders have been renamed and now you have Personal Documents, Personal Downloads, Personal Photos, Personal Videos, and Personal Music.
Yes, in other words, all the folders in a user’s home directory have been renamed with the word Personal in front of them. As I said, there is a reason for this and that reason is to allow us to use libraries and to distinguish between public and personal (private) documents.
Besides these personal document folders, each Windows 7 computer is going to have public folder such as Public Documents.
Full Article – http://www.windowsnetworking.com/articles_tutorials/10-New-Features-Windows-7-Networking.html
