Use of Item Templates in a GridView to activate different controls(Edit box, etc)

Can someone in a nutshell describe templated controls in a GridView control?
When I edit a GridView template in design view with the fly out menu, I see 5 different
types of Templates being listed.

Item Template
Edit Template
Alternating Item template
Header Template
Footer Template

Is the gist of it that you can have different controls in a GridView column, and then display/
activate those controls as needed?

For example suppose you have a column named "Status"; in that column for the Item Template you will have a label control.In the Footer Template for "Status" you will have an edit control.

 And then as deemed necessary you can display the edit control as needed instead of the label control in column status?

I can't find any good documentation on using Templated controls so a good homegrown explanation would work great or a good article on the web that someone could recommend. Anyway, I need help understanding how to take advantage of this great technology.
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jjardineConnect With a Mentor Commented:
have a look at this link.. I think it explains what you are asking:
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