Obviously I'm new to the do it yourself chip burning. Wondering what BLM stands for?

I'm planning a 385 buildup, but if I don't have the funds for the whole thing this summer, I'll probably just put a full exhaust on the 305 (which will work for the 385 too) and if that's the case, I'll probably toy with the 305 chip to dial it in for the exhaust and help me practice for the 385. I read the article about burning chips and even downloaded winbin, but there's still a lot of stuff in winbin that I'm confused about, and it's hard to learn about it without actually working on the car.

If possible, could you just give some explanations as to what happens when you change the VE tables up or down?
I assuming the spark advance deals with timing, is this correct?
These seem to be the main areas to play with to get the car to run right, but what about the Knock sensor and values and all that?
Do you have to change those settings when you change VE or spark?

How do you know how to make given changes?

Sorry for the length and I know the questions are a little vague, but I'm trying to get an idea of what to do before I just jump in. Thanks again.

 

need a little help guys