Hard Drive Status?

I'm looking to learn more about the intricacies of hard drives and I thought I'd start by learning a little about my own.

For instance:

When I load up Disk Management under the Computer Management menu (Start/Program Files/Administrative Tools) I see my three hard drives listed. However, they all seem to have different (and somewhat puzzling) readings for their status.

Here is what I see:

Can anyone help me understand why they are listed in this manner (IE: Starting with Disk 0 and listing the N:\ drive first, my C:\ drive second and the M:\ drive third). Also, what do the different status mean (IE: One says System which is easy enough to figure out since it's C:\ but the others are little different from each other).

Any info to help me better understand this would be great!