Coffused about - CPM, CPC, eCPM, Click, Impressions...

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Hi All, I've been using adsense for more than 2 months. I never thought it could so complicated, I read most of the help in goolge.com/adsense pages but I still don't understand all those terms. How can I use these reports to improve my revenue. I've been focused on content and linking with other pages, but now I want to start exploring other venues (I will continue on delivering content). How can a high CPM or low CPM improve my revenue? What is eCPM (in other words that what google explains), what is CPC... How can I choose between site targeted and not site targeted ads? Are image ads better than text ads? I know that I should experiment more but I am trying to figure out the few basics before I start trying new designs, also I want to be able to interpret the results in a good way when I look at an adsense report. Please help in this regard.