Yes, it left me feeling that way too. I can't help but think the guy who wrote that man-page was more interested in showing us how clever he was rather than communicating how to actually use the damn thing.
Anyway, it's a little more complicated than this, but the basics can be summarised as:
who where=(as) options what
who can run what command(s) as which user(s), on where
'who', 'where' and 'as' and even 'what' can be specified as 'ALL' meaning any user, any host, any command etc.
gazl ALL=(build) NOPASSWD: /home/build/kernel.SlackBuild
User gazl can run /home/build/kernel.SlackBuild as user 'build' on any host(*) without specifying a password.
Rather than read the man-page, you're better off just looking at the examples in the suders file itself, then come back and re-read the man page once you've got the basics down.
(*) sudo is not network aware, it simply allows you to share one sudoers rule file across your network and have certain rules apply to certain hosts.
Last edited by GazL; 11-30-2012 at 11:21 AM.