I have one of these rulers, in fact I was using it on Sunday! The H-Q-F is a separate piece that adds seam allowance for different triangles (if I remember correctly). The standard ruler comes with the yellow guideline that snaps on the back to butt your fabric up against, and the little lavendar circles that help you when you're cutting at an angle, instead of straight.
The only thing I don't care for is that it only comes 12" long.