Go for it.
If you could explain how limbpaths work in an easy-to-understand way, that would be pretty great too.

Just a point, what about stanceoffset and sharpstanceoffset?

As X increases, the gun is held further away. IE, when aiming directly rightward, the gun is held more rightward as X increases.
As Y increases, the gun is held further downward.

I -think- the stance offsets are where the joint offset of the gun is in reference to the actor's FG arm shoulder, (joint offset) but I'm not sure.

What I do is, I give an actor the device in question, aim directly rightward while holding it, and then take a screencap when aiming from the hip and when sharp aiming.
Then, I open the screencap, zoom in, figure out how many pixels rightward/leftward and upward/downward away from where it should be it is, and adjust the offsets accordingly.

I might do this tonight. Maybe, we'll see how time management goes..

Sorry guys, I'm not going to have time to write up a detailed post on limbs or limbpaths for a while... If anyone else thinks they're savvy to the process feel free to write something up, otherwise it'll be in a few weeks

This is one of those things that falls into the "Modder's-List-of-Dire-Necessities-That-Need-Saying-But-We-Are-Too-Lazy-To-Explain-In-Detail-So-We'll-Just-Assume-Everyone-Knows".

Other suggested items being:
Walkpaths (Mentioned Above)
Gib definition and proper placement via the editor
Effects, Trails and Tracers
Animation or, How I Learned to Stop Worrying and Love Lua-controlled Frames
-etc.

Bravo for finally nailing this one for newcomers/pretend-to-knowers.

I might sound like a noob but how do I change the 5X3 to -5X-3 in paint?

What 5x3 is this, the dimensions of the image? You don't want to be changing that, leave it as is. These numbers are for the .ini file definitions of things.

You just measure and observe the numbers in mspaint.
Any changes I said to do to those numbers is a change you do to the number when you input it into the .ini file as the respective offset.

So if 5x3 was the number it came up with when you tried to find the SpriteOffset, you'd input that as SpriteOffset = Vector X = -5 Y = -3

So...you use Paint for spriting a item? Well im gonna give it a try, after i find out how to amke that pink stuff which doesnt show everything white.

Yep. It lacks some features you'd occasionally want, and isn't quite the most 'comfortable' program for spriting, but you can generally make it work, and it's what I'm used to.
When I had access to it, I'd sometimes throw things into photoshop to do certain things, but mostly I've always used the 98/xp mspaint for spriting.
Oh, also worth mentioning is RotSprite. Nothing else I know of comes close to being as good as it for rotating/scaling sprites, including photoshop. Free, easy install, google it. It's on some ancient sonic the hedgehog forum or something.

If your file is in palette, the invisible pink stuff should be very easy to manage. I'm assuming your problem is that your file isn't in palette. Try selecting the image, copying it, pasting it into a sprite from CC, and then 'save as' that as a new file, and try using that file. It should be in palette. If your pink color was anywhere near the right value, 255,0,255, it should have been switched to that, and it should work. Other colors should get switched to the closest color in the palette. Sometimes the color range of the palette disappoints, (You wanted to make something purple? Hah, no. Yellowish oranges, though, more of them than you can shake a stick at!) but you just have to work with it. It can be found in base.rte.

also lol dem ancient sonic websites!
also is this method ONLY for the old piant?

It can be done in any art program that displays coordinates.