@nerdydad - Yes, you do get a skimped down version of Azure AD with the O365 license. The prerequisites mention using Azure AD, but don't say which one, except where they say that the Premium version is optional for auto enrollment with intune. Although, they have several plans/tiers, including 2 premium tiers.
We run E10.0.700.3 at the moment (1 Server 2012 VM that runs SQL 2012, 1 Server 2012 VM that runs the E10 appserver, and 1 Server 2012 VM that runs RemoteApp for the E10 client - all on the same ESXi host) and will likely move to E10.1 in the next few months. We actually found that at sites with low internet bandwidth, RemoteApp is a little slower than when the client is installed locally. One site running a T1 told us that, and we confirmed it to be the case. It may have had to do with the nice metro interface in E10. The sites with 35/5 coax or 10/10 fiber seem to run RemoteApp about the same as installing the client locally.
I actually heard someone say at Epicor Insights 2015 that Epicor 10 ran better when installed locally on client machines connecting over site-to-site VPN. We never really had to test that theory other than at the site with a T1 that I mention here.
Good way to think of it. Clean install is a little extra work today in exchange for a "known" or nearly known environment. An in place upgrade means carrying risk with you, maybe a little, but some that might bite you later.
Or maybe the next IT guy, just leave the headaches for him ;)