application streaming and isolation enviroment

I'm looking for some clarity.. I'm seeing a bunch of things and I'm getting confused..

I know what isolation is, and i've read that it is getting replaced  but application streaming. Is  that correct?  If so how is that concidered an isolation enviroment?
if I stream office 2003 and Office 2007 to the same server for publishing wouldn't it be like both versions are being vitrually installed an run from the same server.
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Daniel BorgerSenior Citrix Engineer- CCEEAsked:
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Application Isolation and Application Streaming are two different things.
Robin CMSenior Security and Infrastructure EngineerCommented:
My understanding is that Application Streaming executes the application on the client device within an isolated environment, e.g. if the app needs a specific version of a system dll, that dll is available to the app within it's isolated environment on the client - but everything else on the client continues to use the dll that existed on the client prior to the app being streamed.
Application Isolation is used when an application is installed onto a terminal server, to prevent it interfering with other stuff on the terminal server.

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