No, it's still a seven channel Rx., but if you use the Y for the battery lead on one end of the Y, you can also plug a servo into the other end of the Y. This would give you all 7 channels to work with. On an 8 channel Rx. without the Y, you still only have seven operational channels and the battery lead is plugged into the 8 channel. If you put a Y on an 8 channel Rx. you would then have all 8 channels functional for servos with the battery lead in one end of the Y.

Hang in there. We all ahve been there and it's just a matter of what you have had a little experience with. I'm still learning which is the frustrating, but fun thing about the hobby. We all want want to know everthing now. In the end we learn that we really need each other, and thus the sharing of info based on what you have been exposed to. I doubt anyone has learned everything you need to know. By the time you learn one thing somethig new comes out and you have an opportunity to learn something new all over again. Have fun.

Hope this helps.