Below are my two cents on the subject, already posted elsewhere.
I believe that we have to distinguish three periods:
1. before Christ's Resurrection,
2. after Christ's Resurrection,
3. after the Final Judgement.
Re:1. Both the righteous and the sinners went to Hades (the Greek name) or Sheol (the Hebrew name), although the righteous went to a part of Hades/Sheol called the Bosom of Abraham, or Paradise (by analogy to the real Paradise which was the Garden of Eden and which will the Garden of Eden restored, i.e., the Heavenly Jerusalem) - both names used by our Lord - while the sinners went to Hades/Sheol the proper, a.k.a. Tartarus. The righteous were receiving a partial reward, while the sinners - a partial punishment (as described in the Parable of the Rich Man and Lazarus).
Re:2. All the righteous from the Bosom of Abraham were transferred to Heaven and that's where the righteous go now. Their reward is still partial but greater then the one offered in the Bosom of Abraham. The sinners still go Hades/Sheol the proper where their punishment is the same as it used to be.
Re:3. The righteous will be dwelling with Christ in the Heavenly Jerusalem which will be on the New Earth, under the New Heaven - all of it constituting the Heavenly Kingdom, or the Kingdom of God. They will be receiving the fullness of their reward. The sinners will be dwelling with Satan and all the demons in the Lake of Fire (to which Hades/Sheol will be thrown in), that is Hell or Gehenna. They will be receiving the fullness of their punishment.
At least that's how I understand it.
. . . Hades can be used particularly to refer to the state of the damned between Christ's Resurrection and His Second Coming in a way I've never seen Sheol used.
Probably because there was no need to talk about it using the Hebrew term.