Thanks a lot with a followup question.

I suppose I can have any number of private keys with coins in each address. Is that a standard practice - split up money into multiple wallets to reduce the risk of loss?

Also once I use the BTC in a wallet I can essentially disregard the private key right?

Great stuff.

I am using a bitcoin client and a wallet from it. What if I close the client? Will I still receive the bitcoins sent to my address?

Liked a while ago.
https://btc.to/7uo

I have read quite a bit on bitcoin, registered user of bitcoin-otc (with the same name as this). I would like to participate in the marketplace to buy my first bitcoin to further experiment. I have been a lurker here for a while so I understand how things are. Would like to get out of here fast.