First strike

There are a couple of spec items that are still in flux (main) — Those should be resolved after this weeks bower meeting.

This PR adds what we had in [google docs](https://docs.google.com/document/d/1APq7oA9tNao1UYWyOm8dKqlRP2blVkROYLZ2fLIjtWc/edit), but removes any questions, links or commentary. 

* Basic markdown formatting
* Removed entire "configuration* section from the aforementioned google doc (Its not bower.json)