As far as my understanding goes this is what some of the parameters do:
First, remember that an esc works by pulsing the power of the battery at different frequencies to make 7.2 volts seem like 3 volts or 4.5 volts or another number below 7.2. These lower voltages in turn make the motor run faster or slower. For instance if the esc give full power half of the time and no power the other half of the time you will end up with 3.6 volts to the motor. If the power is applied a greater percentage of the time, it gives you a higher voltage, for instance power is on 75% of the time and off 25% of the time. In order to turn the power on and off and make it seem like a lower voltage, it must be done incredibly fast so that the car is not jerking around. So the higher the frequency, the smoother the power feels, i.e. less punchy, more linear when you hit the throttle. This high frequency means that power is on and off for only tiny fractions of a second, but still maintaing the percentage of time that the power is on or off. When you lower the drive frequency, this makes the power stay on and off for longer periods of time, obviously not so long that it jerks around, but long enough that it gives a punchy feel and the car accelerates faster. Brake frequency works in much the same way. However, instead of applying power to the motor, the motor is shorted to make it stop. To be honest with you, I dont know how a motor is shorted, so I wont go into that.
The rest of the settings are much simpler:
Minimum drive is the percentage of the throttle or the battery's power that the ESC puts out when you hit the trigger the tinyest bit. A higher minimum drive setting will give you the feeling of more punch, because instead of the esc first going to 3% for instance and then to 7% as you pull the trigger to that point, it will go straight to 7%. By going directly to 7% the motor will be able to accelerate to the speed that 7% power gives it faster than if you were to start at 3% and move up, as your finger moving the trigger takes time. If you just nailed the trigger, it would probably do nearly the same thing, but most of us are accustomed to pulling it a certain way, and it is easier to tune your equipment than to adjust your hand movements.
Deadband is the amount of movement that the trigger has between throttle and brake which does nothing. I use the minimum, but I guess it could help people have more control over where the car starts moving.
Initial brake is the same thing as minimum drive, but for braking. Its the percentage of brakes applied at the first point where the brakes are engaged.
I think that covers all of them.