Your local library or bookstore might be a good place to start with a Computers for Dummies type book.

Generally speaking more is better - a faster processor generally means better performance, a bigger hard drive means more storage. At some point there is a diminishing return on your investment but only you can decide where you budget lies and how that relates to what you do with your computer. Generally speaking almost any mainstream computer is sufficient for browsing the web, watching YouTube, writing emails, listening to music, using "office" applications, etc. It's only when you get into gaming (like first person shooters, not Bejeweled) or video encoding does it make sense to invest in a better processor or video card.

Tom's Hardware does regular reviews and benchmarks of processors and video cards.

7,200 is "normal". There are faster drives, like Western Digital's VelociRaptor.

802.11 b/g/n is "normal" too with N being the fastest standard but only matters if you have an N router.

4270 is the model. ATI makes lots of chipsets and performance can vary widely. As I mentioned, Tom's Hardware does regular reviews.

Fancier audio only matters if fancier audio is important to you. Do you plan on connecting your computer to an audio system?

Gigabit Ethernet (1000Base-T) is the fastest current standard but only matters if you have a gigabit router. All other current routers and devices support 100Base-T) And, it matters only if you're planning on hard wiring the computer.

RJ-45 is an Ethernet port. RJ-11 phone (typically used for dial-up connections and/or faxing).

Line in/out, mic are all normal.

Thanks you. :)

All sounds good! I have 4 Pc's all with AMD processors, would have nothing else. Hope it's a 64 bit? you did not say..

Thanks, yeah it was 64 bit. :) Still searching though. Well more like waiting for a sale. LOL

Waiting for a sale is alright if you have narrowed your search to a few specific models otherwise it is kind of pointless.

Much of the specs are just jargon. Every electronic gadget out there comes with a raft of useless jargon hoping to dazzle the buyer.

You need to be more concerned perhaps with what you intend to do with the computer then put extra cash into those components that will enhance performance in those areas. Prices these days are great compared with yesteryear.