Just want to say alot has changed since I used to run my rustler around (last time I had this thing running LiPo wasn't around.)

I am looking at LiPo batteries and had a question about the C rating I see on the packs, it is my understanding that this letter represents the discharge rating, is this correct?

Also if that is the case is this the continous rate or the max (pulse) rate.

Thanks in advance for any help.