That's why your new hobby will not be quilting but rather playing and learning on the QB.
There are quite a few posts already about learning the shortcuts so you'll know whether you are dealing with UFOs, WIPs, or PIGS.
As for "the rules" - I think you are thinking of the quilt police. We try very hard not to say "you must!" Cotton thread is a recommendation. If you have other thread - by all means use it.
Jelly roll refers to a precut batch of fabric. Honestly I don't even know what it is - but then I don't buy precuts except fat quarters (a quarter yard of fabric cut in 18x22 inch zize).
Spend some time - read up on what's new, and you'll be an old hand at all this in no time flat.