I did not even see your edit until now. It's best to put new questions in new threads, else things may be overlooked.
Folder Formats: Detailed Guide walks through a lot of the details on how folder formats work, in addition to what's in the manual.
The default formats just are what they are. The different formats can be edited if you want different types of devices to be displayed differently, but out-of-the-box most folders are displayed in the same way.