You got it. Simply point and click your way through hundreds of options, navigational preferences and images. It's all there. You can set them up as POP boxes which receive and store mail, e-mail aliases which redirect mail to another box, or as autoresponders. Fifty MB of disk space can hold two hundred text pages or more including images.
Most sites use less than ten MB of disk space.
This is the amount of network traffic related to your domain. A large number of sites have less than 1000MB of traffic per month, but popular sites could many mote times this. A true domain is when you get your very own unique IP address on the web server. Many hosts offer 'fake virtual' domain accounts, which means they fool most browsers into redirecting themselves to the correct directory on the server. This method only works with certain browsers, is not either full featured or a professional solution.