onionroach

The Needlebug and Archer work the same way. They have protection from abilities and damage that an artifact would do. So if an artifact is attacking you you can have your Needlebug or archer block it and it will take no damage from the artifact while still doing damage to an artifact. Likewise you can have your Needlebug or archer attack and your opponent cannot use an artifact to block it. The same concept aplies to other protections, such as protection from black, protection from red, etc.
Regenerating means that if a creature would be dealt lethal damage, for instance your exile is dealt 3 damage, if you pay the 1G, you can regenerate it so that the lethal damage is removed. When you do this, you must tap your creature unless your creature is already tapped. Also, the regeneration works for once. Let's say that your exile is dealt lethal damage, you regenerate it, then your opponent uses an instant to deal another 3 damage. Unless you have something in your had that can counter the spell or something that can regenerate your exile again, your exile is dead. Trolls of Tel Jilad are cool because if you pay the regeneration cost you can regenerate it or any other targetable green creature.
Token creatures work like any other creature except that you are not casting them from your hand. They are being generated elsewhere. Thus they are tokens and not cards. You treat them like any other creature, they have summoning sickness, they can attack or block. Usually people will use dice as tokens or there are token cards you can purchase. Even coins will work.

Yep, common sense does play a big part in deck building. Once you get the hang of it, though, then the finese comes in and you start building engines. That's fun.

JediBlastoise, I looked into that game at one point. But at the time I was playing LOTR and just starting Magic. CCG are expensive to maintain. LOL