Am I correct that you only lose tech support and updates once you purchase Pro?
That is certainly my understanding. I did it recently enough to get the full year.

Yes, There is not support with Basic, and I question LW's Pro Support.
I guess they give you the opportunity to send e-mails and thats about it. No guarantee that they'll get back to you. :(

When I was using Pro, the Updates were what I was mostly concerned about. This Forum is all the support I ever needed. :)