OK, did it myself.
S1:
Useless, shuts off Video and HDs, everything else keeps running. Happens when you click on Standby when shutting down.
S3:
Turns off everything including fans, keeps everything in RAM, PC just sits there. Needs to be activated in BIOS (labeled "Suspend to RAM (STR)" in my case) and Windows Power Management must NOT be set to "Desktop", otherwise fans will stay on. Entered like S1, by clicking Standby.
S4:
Hibernate mode, pretty crap, slow, needs lots of HD space and crashes on my machine. Doesn't need any power though so good for Laptops. Needs to be activated in Windows Power Management. Enter by holding shift before clicking the Standby button.
So I'll be using S3 for a while and see how I like it. Has anyone measured how many Watts it pulls from the Wall Socket?