Power Management Options ?

my new macbook pro 15" should be with me shortly (currently shipping from China). One thing I am being confused about (and have some some searches but not come up with a definitive answer as yet) is the power management options available..

for example, coming from a Dell XPS running windows, I am used to standby/suspend/hibernate options when closing the lid etc, can someone put my mind at ease about what options are available with a MacBook Pro and Leopard ?

apologies if this should be in a different section.

First standby/suspend/hibernate are not on the Mac, you get sleep or operating with choices of setting timings for screen saver and hard drive spin down etc. Plenty to play with to suit your usage patterns.