Questions about Regeneration...

I'm finding that many Skeleton-based cards have this ability, but exactly how is it played?

According to the M:TG online rules, Regeneration is explained as follows:

701.12a If the effect of a resolving spell or ability regenerates a permanent, it creates a replacement effect that protects the permanent the next time it would be destroyed this turn. In this case, “Regenerate [permanent]” means “The next time [permanent] would be destroyed this turn, instead remove all damage marked on it and tap it. If it’s an attacking or blocking creature, remove it from combat.”

701.12b If the effect of a static ability regenerates a permanent, it replaces destruction with an alternate effect each time that permanent would be destroyed. In this case, “Regenerate [permanent]” means “Instead remove all damage marked on [permanent] and tap it. If it’s an attacking or blocking creature, remove it from combat.”

701.12c Neither activating an ability that creates a regeneration shield nor casting a spell that creates a regeneration shield is the same as regenerating a permanent. Effects that say that a permanent can’t be regenerated don’t prevent such abilities from being activated or such spells from being cast; rather, they prevent regeneration shields from having any effect.

Now I'm the kind of guy who learns better by doing rather than reading, and the rules we follow at home are undoubtedly different from official play, so the only way I'll truly understand this is to see others use it and follow their lead.
At home, we play with Mana Burn, so life is lost for every unused land on the battlefield. This alone changes the strategy when dealing with spells like Regenerate.
Then there's the timing. These rules read as if I can cast Regenerate like a shield that lasts until the end of the current turn, even if I choose not to "use" said field...and therefore prevent Mana Burn. But, if I want to have that shield available during someone else's turn, I take the Burn, and then cast it when I use a given creature for defense.
Okay, fine. But do I cast this defensive spell at the beginning of their turn, or just when my creature is blocking? Does it matter? Can I use this when attacking to keep my creature on the battlefield in order to force my opponent to tap one of their creatures to open the way for another of mine?

You see my confusion?

I still think my Skeleton-themed deck could work, but I'll just have to ask some experts the next time I shop for cards.