Is the var type an equivalent to Variant in VB? When object can accept any datatype, what is the difference between those two?
Nope - var just means you're letting the compiler infer the type from the expression used to assign a value to the variable.
It's just syntax sugar to let you do less typing - try making a method parameter of type "var" and see what happens :]
So if you have an expression like:
var x = new Widget();
x will be of type Widget, not object.