Can Anyone please Tell me when and What are the Localscripts For?
A LocalScript is a script that runs on a client that's connected to a Roblox Server. The wiki article really explains it best and this one's pretty easy to understand:
http://wiki.roblox.com/index.php?title=API:Class/LocalScript
Local Scripts will only run if it's in a designated area. It can be inside the Player's CharacterModel, PlayerGui, PlayerScripts, BackPack, or in the ReplicatedFirst service(Replicates the contents to the client first).
They are copied to every player and allow you to control client-side objects such as their camera.
game.Workspace.CurrentCamera
You can also directly get the player:
local player = game.Players.LocalPlayer
or
local player = game:GetService("Players").LocalPlayer