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Arch is a rolling release distribution of GNU/Linux. It is the official distribution for ricing. Arch is strictly for 1337 hackers, and therefore has no GUI installer. You will need to use the Arch Wiki if you want to survive your first install.
Pacman is the package manager for Arch. Typically you will run updates if you feel like breaking X. This keeps the user on his toes and in a constant state of 'maintainance'.
The Arch Wiki is a required component for Arch, since there is no proper documentation on anything. You are free to insert your own hacky scripts to workaround bugs the distro maintainers refuse to fix.
ArchBang is a minimal arch derivative that runs the Openbox file manager. It is usually a good entry point to the arch way if you consider that breaking a window to enter your friends house is a good entry point.