Martin & Florian,
You guys are great! Thanks for the help.
I have some experience with synths, but things like VCA's & Mixers are things I have taken for granted as I've never used modulars. I'll have to re-read the SoS articles with modulars in mind this time around!
Martin, your simplified explanation is helpful.
And Florian, I think you have indeed figured out the source of my confusion.
I think I can finally get a good night's rest now :).