"An end-user-oriented distribution that NovellŪ makes available to Linux users everywhere via free download and free redistribution, openSUSE is not intended for business deployments but provides Linux enthusiasts and corporate evaluators with an excellent first look at the latest Linux and other open source technologies. Technologies previewed in openSUSE, when refined and fully supported, may appear in future Novell enterprise Linux offerings. The current version is 10.1, and openSUSE 10.2 is scheduled to ship in late 2006."
SLED10 is built from the same code base as SuSE Linux Enterprise Server 10 which uses kernel 2.6.16 + some changes specific to SuSE. It comes with a limited number of applications appropriate for an office desktop, i.e., not a lot of games and multi-media stuff.
SLED10 is only available for purchase and you are buying essentially a support package and the right to download upgrades.
openSuSE 10.1 is built from the 2.6.17 kernel. It includes lots of packages. You can purchase it but what you are essentially buying is media. You can download it for free or install it across the net or no charge. You are basically providing ongoing beta testing for Novell and, if you participate in development, you're helpihng Novell and the Linux community.