More Bike Trainer ?'s. But different...

a. When I get the trainer am I going to know how to set the darn thing up? Is it complicated?

Not complicated at all. Should come with instrux. 

b. What about wheels? Do you guys change the wheels on your bike? I'm concerned basically with wear and tear

You do not HAVE to change the rear wheel/tire but if you have the luxury of an extra rear wheel with a tire on it you can spare it'd be better.  The tire will wear down over time and if you're using the same bike on the trainer as you rideon the road it would be a real pain to need to change the tire every time.

c. Do I need a riser block?

Nope.  Your trainer might come with one though.  If you feel more comfy with the front tire raised so your bike is level just throw a phone book or something under there.

d. How quiet is queit? I'm manily going with cyclops cause of the reviews on noise.

Well, not quiet enough so someone could sleep in the same room, but should be quiet enough where it should not disturb someone in another room if a door is closed.  If you're in an apartment with someone below you you might wanna ask them about the noise.  Your bike and any videos you are watching while riding might make more noise then trainer itself.

e. magneto? fluid? what the heck does all his mean?

It's the type of resistance the trainer uses.  I've never used any but fluid (until I got a computrainer) and they were great.  I was told fluid mimicked the feel of the road more closely, but who knows?  Cycleops trainers are very good quality.  You'll be happy with it.