Alright I've watched so many different videos and seen a lot of different facts about the Rune system in Diablo 3. It all keeps changing I'm not really sure which is the correct answer. I'm hoping someone can clarify how this system works and what these runes do.
This questions has been given an answer but feel free to repost an updated answer when the game comes out or more information is present. I will definately +1 and mark any answer that is better then the current one.