For each method in the definition file, the client creates a method on itself. You get all the Intellisense and everything. This is the URL of the endpoint it should call methods on. You can change this at runtime. If a request generates a fault from the server, the fault will be converted to a VB error, where the Err.
Description contains the faultstring of the fault.
This is similar to the work done by Lars Bergstrom with the SOAP Bubbles control. Server The server designer, SoapServerDesigner, is even cooler, and I think it is for a brief moment unique. It turns your VB application into a SOAP endpoint. For each method in the definition file, it creates an event on itself. The server actually is a mini-web server.