First off, don't take this the wrong way! I'm just trying to read this as a complete novice would (which I pretty well am anyway). Of course, I could google all of this, but I expect people will be reading this for some help there and then and are not interested in a skip through the internet.
1. what is the 'SOC'? What does it store - anything personal?
2. in File Format, "property=integer", maybe "property=number". OK, so a number is not neccesarily an integer, but the latter reads a bit 'technical'
3. Video mode options: "DVI or HDMI with new start.elf ". Elf? Goblin? what is this mysterious being?
4. What is a "console framebuffer"?
5. Mode values, its not clear what this section means, how do we set these modes and what do they do? will they break anything?
Finally, is this the complete list of things that can be in config.txt?