Yesterday a guy was telling me about a software program called tab pro 5 that will play drums, bass other guitars in the background while you play along with your own guitar. The software will show you the tabs and how to play them for specific songs. I'm assuming you would load the tabs into the software from this website?

Is this all true? Am I missing something? How do I get the software and what are the requirements?

uh you mean Guitar Pro?

If so, yes all that is true. It costs like $40-50 I think (assuming you're not a fan of breaking the law). There are free alternatives such as PowerTab that do relatively the same thing. Google is your friend
As for Power Tab doing essentially the same thing as Guitar Pro 5, I'm confused. Here are the features for Power Tab. It doesn't say anything about a backup band playing behind you. Will the software show you how to play the tabs?

Summary of Power Tab Editor

•Creates, reads and plays guitar tablature and bass tablature in the .ptb file format
•Released September 24, 2000
•Windows 95/98/Millennium/NT/2000/XP/2003
•Visit the Products page for more information about this software, including screenshots and sample tablature output