What it is for
The Price Book is your list of items: materials, labour and anything else that goes on a quote. Add an item once and pull it into any document afterwards instead of retyping it.
The time it saves is on the tenth quote, not the first. It is worth an hour early.
Items
An item has a name and a description. Give it the name you would say to a customer, because that is the name that prints on their estimate.
Archiving
Items can be archived rather than deleted. Archiving takes something out of the list you pick from without touching the documents that already reference it.
Archive, do not delete, anything you have ever quoted. Deleting is for the item you added by mistake five minutes ago.