Horizons A probably quite stupid question about servers

I'm still downloading, but I have a question: Will I be able to play with friends who don't have Horizons when I play only the Horizons download or do I need to download the 1.5 client to play with them and switch between versions? And in the latter case, do I have multiple savegames?
 
My understanding is you will be able to play with them as normal but they won't be able to access Horizons content. For now this means, when you reach a planet YOU will be able to go ahead and land but they will suffer an emergency drop from supercruise (they reach a planet exclusion zone; so their game plays as it did in Season One.)
 
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