Ok, so i want to know some dif effects and definitions so i can decide what pedals to buy.

What is Overdrive-
What is Delay-
What is Reverb-
What does a Compression Sustainer do?
Chorus Ensemble?
Phase Shifter?
Line Selector?

What does a pedal board do?
Whats is a Guitar Effects Processor?

If everyone could just answer the ones that they know, thatd be great
OK, this is gonna be long.

Overdrive is a light sort of distortion, like you'd hear in blues and classic rock records.
Delay is an echo after your original note. Like... NOTE!Note... note...note...
Compressors basically 'squash' your notes. They amplify the soft notes, and make the loud notes a bit softer.
Chorus sort of makes things shimmery... ish. Listen to the clips on this page. http://www.musiciansfriend.com/product/ElectroHarmonix-Small-Clone-Analog-Chorus-Pedal?sku=153312
Flanger is a sweeping, airplane-taking-off sound. Here's a clip. http://www.musiciansfriend.com/product/MXR-M117R-Flanger-Pedal?sku=151122
Phaser is sort of a watery sound, very cool. Search on that site that I linked to for 'phaser', and you'll be able to find some clips.
Tremolo is a rapid variation in volume, listen to clips on the site again.
EQ pedals can boost some frequencies and cut others, like the EQ on your amp- just way more sensitive and detailed.
Wah is the awesome sauce. Ever heard 'Voodoo Child'? If you have, you've heard wah.
A line selector lets you pick a certain amp or guitar.
Pedal boards are boards which you put your pedals on.
An effects processor is one unit with many effects in it. They generally aren't as good in terms of sound as single effects, but they've got about a frillion effects in them.

You do realize that other companies make all these effects, right?
Any effects company... ever. Electro-Harmonix and MXR are a few popular ones, as well as Ibanez, Digitech, Vox, and Morley.
^ You can use as many as you liked at a time. It won't sound that great, probably, but I doubt it'll blow anything up as long as you don't use five boosts in a row.