Help Using Presets

I find the preset menu and dialog box very confusing. I've read the documentation, but still don't understand what I'm doing when I try to use this feature. Specifically, it only seems to have options for export/import new/delete not for "save" or "update." I also don't know what actions or groups are being acted on when I select a command. I want to do two things:

  1. I want to save my entire set up as it is right now. (And maybe later update it if I make changes.)

  2. I want to export my settings for a specific app in some way so that other users of that app can import those settings (but nothing else).