Make sure you have the rebuild kit in hand when you start disassembly. There are many versions of these carbs over the years. Look at the instructions to see what versions are covered. When taking it apart, try to match up the gaskets with the new ones as there are extras in there that may not match yours. Having a clean open space to work with and to organize the small pieces is crucial. I bought that gallon of cleaner to dip the parts and it worked well. Take your time and review the rebuild instructions. It helps to have a factory manual for the car you are working on. These books cover carb rebuilds. I rebuilt my first carb a couple of months back and it worked fine. Stick to the measurements given for adjustments and you should be fine.
As for the way it works, that's it. The engine vacuum will draw the air and the metered fuel through the intake manifold and into the combustion chamber when the intake valve opens.