Do mnay of you use any type of software while playing...

[chekraze]

that tells you stats on your hands, how opponents are playing, etc?

And what does it mean when people describe villain as 40/3/1 or whatever?

[subzero]

You should post this in the Software forum.

PokerTracker keeps stats. on how you and your opponents play. GameTime+ overlays these stats. on your table when playing. 40/3/1 are PokerTracker stats.: VP$IP is 40, PFR% is 3, AF is 1.

PokerTracker: get it here
GameTime+: get it here
See the PokerTracker articles here