Better to find out now rather than regret later.
You probably can't do better than the "Glossary of caravanning terms" on the caravan club site: http://www.caravanclub.co.uk/ and then navigate to "Practical Advice" and then "New to Caravanning"
Whilst you are there - take a look at the "Quality and Reliability survey for 2005" - this will give you a few good pointers when looking at various brands
Also there's a quite large download (2 or 3 Mbytes) called "New to Caravanning"
And there's a significant amount of well written information on the Practical Caravan site - just look above and follow the links to "towing law" and "beginners"
Enjoy...
But in a very few words:
MTPLM is the maximum weight a vehicle (caravan) can be legally loaded to.
MiRO is the "empty but usable" weight of a vehicle (if this was a car, it would be the car + some fuel + a driver) which for a caravan includes some fluids and gases.
Payload is the difference between these two weights.
Nose-weight is the down-force that the caravan applies to the car tow-bar - and there are legal minimum and maximum weights for this too.
Robert