Raymond Chen says "Windows three point O contained three Kernels"

The 16-bit Windows, technically; had three Kernels.
1) If you're using 8086 Processor
2) If you're using 80826 Processor
3) If you're using 80836 Processor

The 8086 Kernel had totally different codes than other two.But, on looking upon it's been found that 80826 & 80836 had almost all similar codes.

Another difference as told by Raymond Chen "The difference between 80286 & 80386 Kernels weren't based whether you're running Standard or Enhanced Mode.If you're running on an 80386 Processor,then you get 80386 Kernel regardless of which mode of Windows you're using.Since Enhanced Mode Windows required 80386 processor,the behaviour of Standard & Enhanced Mode was restricted to Processor 80386".

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I would rather say subscribe to his blog !