Log File Access - you can access the log file and see who has been visiting your site
Backup / Restore Manager - presumably if something screws up it can be restored
Custom Error Pages - exactly what is says, if you get an error such as 404 not found you can create your own custom page to appear when the error occurs
Sub Domains - presumably something like subDomain.domain.com
Catch All - haven't got a clue
FrontPage Extensions (2000/XP) - if you create a page with frontpage there are functions you can put into your page to make it dynamic, these require front page extensions to be available for them to happen
Available ODBC Drivers - Open DataBase Connectivity - basically a standard way of accessing databases
The following will allow you to work with the software specified, e.g. MS Access driver will allow you to work with MS Access.
Microsoft Paradox Driver (*.db)
Microsoft Access Driver (*.mdb)
Microsoft Visual FoxPro Driver
Microsoft Excel Driver (*.xls)
Microsoft dBase Driver
Microsoft SQL Server & PostgreSQL - support for both query languages
Available Scripting Features - presumably they support some scripting languages although they dont say which ones!
Although a server offers all of these they may well charge extra for them, so watch out - especially with the sub domains.
No doubt this is a MS based server, if you dont understand what the terms mean it is unlikely you will be using them. Out of these features you may use one or two they seem to have offered all of them to appeal to most people rather than offer a lot to one person. Personally i would go for a nice unix based server with php, and perl cgi as well as a MySQL but that is just my personal opinion - you can do most things with this and it is pretty standard in that most servers will suppport this so if for some reason you need to move your site to another server it is just a straight swap