Not sure what's the point of the 'Pages' option is here on WordPress.com. I thought it would allow me to create pages -- similar to catergories -- which I can post to. I've hunted across all the settings and FAQs; searched here as well. It seems that Pages creates a static page, which you can edit as you go, meaning it isn't dynamic and updates itself with new posts in real-time.
Is my understanding correct?