I'm from the north-east up in new england. It varies from where you go to but most of the time it goes as such :
*Headies- really good bud, top of the food chain, typically gives you a "head high". All of the well knows sttains such as kush, haze, skunk, sour diesel, ak, etc... will fall in this category
*Beasters- good buds/ nice nugget. Not out of your mind weed but certainly nothing wrong with it at all. Also a little cheaper than headdie strains. Has a nice appearance smells and smokes well, usually typically homegrown/ slightly more local but where someone knew what they were doing.
*Mids/ middies- cheap cheap cheap. Like you were all out of weed and this is all you could find. Could have big stems, often seeds. Brick weed would fall n this group, not buds, pretty dry and doesn't smell good nobody gets excited over it at all. Not a really pleasant smoke but better than no trees.
*Schwag-Shit. Brown, more stem and seed than actual pot. Usually dark brown and often pretty wet. I bet some 14 year old grew this shit. extremely low prices. Almost a waste of time cause it's so shitty and wouldn't want to dirty my bowl and still not end up high.
As far as other terms, Dro...nobody ever really says dro around here. If they were to say it they'd just say hydro which that just means it was hydroponically grown, not actually a class or strain of weed. Kids used to say that in middle school and that's about it.
Heard a lot of people throw around the word chronic back in the day, used to mean it was dusted with something. Then it just meant "yo this chronic is the bang bang mofucker" and then it just went away. I can't remember the last time I heard the term chronic actually around here.
Also terms like dank aren't ever how weed is referred to specifically. Some tool who thinks he's trying to sound cool may say "yo this is some dank ass shit right here" but even then dank is just a slang word for "good" or "potent". Then again nobody says dank around here anyways unless they're some lame asshole trying to sound gangsta. Skunk is just a strain of weed, it's not a classification like headdies. Just because it smells strong does not mean it is a skunk plant. I'm missing a lot but this is already really long, and nobody's gonna read through it anyways.