[/quote]
It takes one block to be produced (approximately 10 minutes, but that can vary a lot) and after that, you should be able to see the transaction in your client.
[/quote]

Wow, that is one robust system...

Not that I worry, I assume this has all been figured out, but what happens to unconfirmed coins that are sent? 

First of all, thanks so much for the tips, this community is great.

But why is it I don't have to update the savings account at all if I just send to it, but as you guys say, I need to backup after every transaction?

Also, how long does it take to confirm the .05 coins I got from the appspot program by gavin?  If what I understand is right, the transaction needs to be verified by the hashes of more clients?   (8 connections is what I max out at if that has any bearing)

Hi guys, just got into Bitcoin thanks to GRC's Security-Now podcast.  Quick question that I haven't seen answered on the wiki.

It suggests creating a 2 wallets, one that has all the "savings" and one for the other normal transactions. 

1) If coins are sent from A to B, I need to close BTC, open it up with a B's wallet.dat, wait until payment is received, and then switch it back out correct?

2) What, in general, happens to coins that are sent to an account that is not online?  (From what I understand the blocks will catch you up right?)

3) How often should the "savings" wallet be updated with new blocks?  Sealing it away in an encrypted container can't possibly make it a proper wallet...right? 

4) All these blocks we're all getting, is this taking much bandwidth?

5) As I recall, losing your wallet.dat with any funds inside means those BTCs are gone forever - is this equivalent to burning a dollar bill or melting a penny?