#1
I'm just starting to become aquainted with the world of guitar technology/pedals, before its always been gutiar+amp=music. Can someone give me a basic rundown of what everything is compressors, equalizers, etc...
#2
Distortion/Overdrive - "Drives" your amp to (if tube) clip creating this effect.

Equalizers - change the frequency and levels of your output of the guitar tio amp. This usually includes but is not limited to: Bass, Middle, Treble.. there are also 6 and 10 band eq's to further adjust your sound.

Compressors - they "compress" your sound to make it smoother, but sometimes it may degrade your tone.

Reverb - simulates different scenarios of being in small rooms to large ampitheaters. Gives it a "reverberating" sound kind of like a very weak echo. ver good pedal choice in my opinion.

Delay/Echo - This pedal simulates a delay in a frequency after a note is played. In example, if you play a note and have your delay set to 2 seconds, another of your same note will play at 2 seconds


Now there are many many other effects such as: flangers, phasers, noise gates etc.. If you would like further info please feel free to PM me.

Hope this helps!
Gear:

Guitars
Martin DSR
Taylor 214e
Fender Strat
Epiphone 335 Dot
Carlo Robelli Acoustic

Amps+Effects
1978 Fender Pro Reverb
Boss Blues Driver
Boss Super Overdrive
EHX Holy Grail
Boss DD-20 Giga Delay