A: So the new 4 selection option replaces the old "Active" on/off flag.
"Planned Event" is basically the old "Active" set to off, it is a future event you are planning, no entries can be added.
"Live Event (Show Results)" is the old "Active" set to on, an event ready to accept entries (once the date/time has been reached for entries to be open) and the event can run once the Start date/time has passed. Results are shown.
"Live Event (Hide Results)" is the same as above but results are hidden until set to "Provisional Results".
"Provisional Results" is set once the event has finished and you wish to show "Provisional" Results.
The last if the new one, "Finalised Event" is when you declare the provisional results as final :)