Yes, sorry, the field name is the short name. Field label would be a descriptive label - whatever you want. Sorry about that, I’m going to edit the article to make that clearer.
Field instructions are just for instructions on the publish form and SAEF. You can fill that in if you like - I gave only the minimum needed to get going.
As for customizing, you should be able to take this idea and run with it for other uses, or use parts for other ideas. You’ll see as the series grows. =)