Getting deeper than you need to. Don't worry.
1: Level Wind? The CS version has one, the CT doesn't. Basically a little mobile gateway that travels across the front of the reel when you wind in and lays the line 'level' across the spool. CT's are better for distance casting as the level wind adds friction and gets in the way.
2: Lumping? Some do, some don't. It's all to do with balancing the spool so that it reels off smoothly. Smoothly being no vibration or floppy juddering movement of the spool when flat out.
I've done it on the Penn Supermag but only because, even with my deafness, I could hear it groaning when I cast. Don't worry unduly about it. Read an expert view here on tuning. :
http://neilmackellow.sea-angler.org/reel_tuning.html Neil knows a hell of a lot more than me (pass me the back of that postage stamp) and explains it better than I can or what is written in your link.
3: How do you keep it level when you're winding on? Cotton reeling! That is you move the line across the spool with your thumb as you wind in so that the line lays evenly. God-given, digital 'Level winder', your thumb.
When you start to put line on the reel, whether you're going to lump it or cotton reel it, keep the line fairly tight between your thumb and finger as it feeds on. A slack line will haunt you on every cast otherwise. Biggest difference when casting a multiplier to a FS is stopping it. With a FS you will have got into the habit of flicking the bail arm over when the lead has settled on the sea-bed. With a multiplier you have to stop the spool with your thumb as soon as it hits the water. Bird nest otherwise cos it'll keep running faster than the lead is sinking. Problems I had when using two rods, one with my trusty FS and the other with a multiplier
