Drupal 7 - get all terms for a node

Okay, you can use api.drupal.org/field_view_field, if you know all the various fields a node is using for terms and term references (reference):

$terms = field_view_field('node', $node, 'field_tags');

If you don't, load them all in one fell swoop (with lots of caching, please):

/**
 * Likely in hook_preprocess_node.
 */
function mymodule_preprocess_node(&$vars) {

  $multi = array();

  // get all the terms for this node, add status if desired
  $results = db_query('SELECT tid FROM {taxonomy_index} WHERE nid = :nid', array(':nid' => $vars['node']->nid));

  // loop over the terms for the tids
  foreach ($results as $result) {
    $tids[] = $result->tid;
  }

  // load all the terms at once
  if (count($tids) > 0) {
    $terms = taxonomy_term_load_multiple($tids);

    // and do shit with them.
    foreach ($terms as $tid => $term) {
      // in this particular case, push them onto an array to track in google analytics.
      $multi[] = array('_trackEvent', 'terms', $term->vocabulary_machine_name, $term->name);
    }
  }

  drupal_add_js(array('multi' => $multi), 'setting');
}