I do have one quick question though: if I end up having to re-download all my apps, how do I go about downloading for free and app that I already paid for? I have never done this.
If you've downloaded it once you can keep downloading it as many times as you want. Lets say you accidentally delete a paid app from your iPad, you don't have to sync it back from your computer, you just go to the App Store on your iPad and download it again for free.