I'm wondering if there are any cautions I should take before using it.
Here are a few things I don't understand, and bare with me please.
1) How do I make sure if my computer crashes, I still have my bitcoins.
2) How do I transfer my wallet to other wallet clients like Bitcoin QT or multibit?
3) For the paper backup to work, do u also need the passphrase for wallet?
4) more questions to come
This will get you started.
https://bitcointalksearch.org/topic/i-made-video-tutorials-on-how-to-use-armory-281949
1) How do I make sure if my computer crashes, I still have my bitcoins.
Have a printed paper wallet stored in a safe place.
2) How do I transfer my wallet to other wallet clients like Bitcoin QT or multibit?
I just send the coins to the other wallets.
3) For the paper backup to work, do u also need the passphrase for wallet?
You can't make a paper back up without the pass phrase.