This is good info for anyone that interpreted the articles and press releases for Creo 1.0 they way I did. It's my own fault for believing it since it was never explicitly stated. I thought by being a Pro/E user with a maintenance license that Creo 1.0 was going to give me the additional tools of direct modeling that I could combine with my parametric tools, but the reality is that an additional license is necessary for me to have the direct modeling tools.
Another way to phrase it would be to say that if you previously had licenses for Pro/E and CoCreate then you will also have the interoperability of parametric and direct models within Creo 1.0.
Did anyone else share my confusion as well? Maybe I still have the facts wrong Please share.