Actually, Max you have it closer than you know.
The original title of the book is "Harry Potter and the Philosopher's Stone". However, it was believed that the reference was too "vague and confusing" for Americans... Apparently (and I wish I was kidding you here), they asked a selection of american readers if they understood the title and the most common reaction to it was "What is a philosopher?".
Thus they changed it to "Sorcerer's Stone" since everyone in their selection understood what a wizard or sorcerer was.
Other than that, the books were exactly the same... Except wherever the term "philosopher" was they changed it to "sorcerer" as per the title.
I remember I nearly decked the people in front of me at the first movie though (which I saw before reading the book). They insisted on making fun of the term "Happy Christmas" and actually had the nerve to say during the movie "Those idiots, don't they celebrate Christmas? It's 'Merry Christmas', not 'Happy Christmas'!"
Trying to create a world, even in words, is good occupational therapy for lunatics who think they're God, and an excellent argument for Polytheism. -S.M. Stirlinghttp://www.bamatthews.com
The Writings and Musings of B.A. Matthews