All the options available in SharePoint 2010 can seem daunting, but the good thing is that applying the configurations is easy and located all in one spot. Permissions and Management options can seem a lot more straightforward than some of the General Settings options.

Permissions and Management Options
Setting Name What You Can Accomplish
Delete This Document Library (or List) Just like it sounds!
Save Document Library (or List) as a Template A way to reuse the library or list columns and settings (with or without content) in your site (or collection).
Permissions for This Library (or List) An option that allows for different permissions for the library or list versus the entire site.
Workflow Allows you to enable workflow and specific Workflow settings for this library or list only.
Generate File Plan Report You can add/edit default values for columns indicated in the library or list Validation settings.
Information Management Policy Settings to be used in conjunction with a Records Center site or for in place records management.
Enterprise Metadata and Keywords Settings Adds a managed keywords column to the list/library and lets you treat those keywords as social tags if desired.