The existence of product form solutions in networks of queues has been known for many years. Recently the authors have shown that there is a class of stochastic Petri nets (SPN's), distinct from queueing networks, which also have a product form equilibrium distribution. Most practical SPN's, however, do not fall within this class. In this paper the class of SPN's which can be analyzed using these methods is extended in several directions. Using embedded discrete time processes we study a class of SPN's which have a closed form equilibrium distribution. These SPN's have probabilistic output bags, colored tokens, and alternating periods of arbitrarily distributed enabling and firing times (periods of time between transitions becoming enabled and absorption of tokens and between transitions absorbing tokens and depositing them in output places, respectively.) In addition an aggregation procedure is proposed which, in certain nets, not only reduces a complex SPN to a much simpler skeleton SPN but obtains results for the skeleton SPN which are exact marginal distributions for the original SPN. [ABSTRACT FROM AUTHOR]