Blade_killer,

Side in hovering: That's when the heli's left side or right side is pointing towards you.

Nose in hovering: That's when the nose/front of the heli is pointing towards you.

Tail In: That's when the tail of the heli is pointing towards you. Best way to learn, that way all directions seem normal, if that makes sense? Forward, Backward, Left or Right.

Hitting something is okay, just cost $$$, just don't hit somebody, cut the throttle and crash, still cost $$$, but nobody gets hurt.

Size: The CP is in the catagory of a 300 size heli..The bigger the heli, the bigger the number. And vise-versa.

By your questions, I'm gonna guess your pretty new to the hobby, check out this site for Heli Flying. It's called Radd's School of Rotary Flight and will give you a lot of tips and training, follow it and you'll be amazed on how you progress.

Link: http://www.dream-models.com/eco/flying-index.html