Okay.
CRANKSET FSA Vero Forged 52/42/30
This is the crankset and chainrings on the crankset. FSA (Full Speed Ahead) is a brand and Vero is the model. Forged means it's steel and heavy. It's a triple crankset with chainring sizes of 52, 42, and 30. The smaller the chainring used on the front, the easier it is to pedal and the higher your cadence will be for a set speed. 52/42/30 and 53/39/30 are common road triple combinations.
165mm (47) 170mm (50-53) 175mm (55 - 62)
This refers to the crank lengths for the different sizes of bikes in parentheses. Tall folks generally need longer cranks, shorter folks use shorter cranks.
FREEWHEEL SRAM Powerglide 950 9-speed 11-32
This refers to the cassette that's used on the back. In contrast to the chainrings, the more teeth the easier it is to pedal and the higher your cadence will be for a set speed. This is because the more teeth the fewer the revolutions of the back wheel per revolution of the cranks. This particular cassette happens to be a mountain bike cassette made by the company SRAM. Road cassettes typically only go to 27 max (SRAM to 28), while mountain cassettes go to 32 or 34.
To get easier pedaling (and to have more gears for us slowpokes up hills), you want smaller rings on the front and bigger rings on the back.
Sheldon Brown has a gear calculator that's fun to play with.
http://www.sheldonbrown.com/gears/