Multiple Windows options in Grub Menu (Ubuntu 12.10)

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http://askubuntu.com – Please help me. I'm curious about but VERY new to Ubuntu and Linux in general. Short: My system has 2 OS: Win 7 x64 and Ubuntu 12.10. I'm getting 2 Windows boot options: "on dev/sda1" and "on dev/sda2". What does this mean? What implications does this have for my continued Windows usage and for when I may remove the Ubuntu installation later? Longer: I was running just Win 7 x64, then installed Ubuntu 12.10 along side it. Was trying to boot back to Windows 7 only to get a "disc reading error." Booted back to Ubuntu, grabbed boot-repair, then used mbr repair in boot-repair. System could then (HowTos)