I already knew most of this but it's cool that it's explained in a more simplistic sort of way.
What I didn't know:
1 in 10 queries is misspelled.
The results in a google search are called snippets.
Search results differ by a bit depending on where you live.
But i have one doubt Google lists results upon the the "back link" i.e where he has come from. Imagine one result is first google search and that will be clicked more number of times by a user than the result in 5th or 6th page. Though it contain correct information that user wanted.
Another thing Google lists the results depending upon the Traffic that site has. So a new blog or new site will not find a correct place(correct place in the sense though correct information but not first page)