I'm clearly running powershell v2.0.x on Windows 7.
PS C:\> $PSVersionTable
Name Value
---- -----
CLRVersion 2.0.50727.5444
BuildVersion 6.1.7601.17514
PSVersion 2.0
WSManStackVersion 2.0
PSCompatibleVersions {1.0, 2.0}
SerializationVersion 1.1.0.1
PSRemotingProtocolVersion 2.1
So why is $pshome pointing to a directory named v1.0?
PS C:\> $pshome
C:\Windows\System32\WindowsPowerShell\v1.0
Should I just file this under "Business as usual" for microsoft? :-)