Lead Time: This is how long it will take to make the product.
Show Quantity Box: Select Yes or No from the drop down box. If you have yes selected your customer can order more than one at a time.
Use Text Box: Select Yes or No from the drop down box. If you have yes selected your customer can include a comment while ordering the particular product.
Text Box Label: If you use the Text Box, specify a Title for it here. If you do not specify a title the default will be: Extras.
Tax Exempt: If this option is set to yes the product will not have tax calculated on it
Free Shipping: If this option is set to yes the product will not have shipping calculated on it

Picture File Name: Select the picture from the drop down menu that will be displayed with your product. If you do not have a picture you can select the "no preview" image. I have noticed that if you do not have a picture your product can not be seen to be placed in your customer's cart.
Picture Two File Name: You can select an additional picture to have displayed in your product description.
Picture Caption: This is what will be displayed underneath your picture.