Confused about HT formats

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Okay, now I'm thoroughly confused. These are all the formats I've read about:
Dolby Pro Logic
Dolby Digital
DTS
THX
AC-3
and
Dolby 5.1
What is what?
Which one is the latest and greatest?
Which one is the best format?
Which one is the most popular format that movies come in?
If a movie is recorded in one format but my receiver plays another format, will there be degradation in quality or incompatibility issues?
Please help!
New to HT

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Parts Connexion

Topic - Confused about HT formats - NewtoHT 12:52:11 08/24/00 (2)

Re: Confused about HT formats - kotches 07:21:11 08/25/00 (1)

Good Explanations !! (NT) - KKM 07:46:15 08/25/00 (0)

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