Will it work with vista home premium or is it only for XP

Please read the FAQ's

So you use the xp cd in a vista machine?

UBCD4WIN can built with XP SP1, XP SP2 or 2K3 (prior to R2)

The CD can be booted on any system that supports cd booting, regardless of the installed operating system and you can even boot it on a machine that has no hard drives installed.