Welcome to Check Point! If you're only a little confused, you're doing great. Unfortunately, licensing the product is where it really gets confusing.
If you go to
http://pricelist.checkpoint.com, you'll see the different products and their list prices. The General Price List is what you're looking for.
Go into your Account section and note the license strings and try to match them to the price list. From your description, you do not get SmartDefense updates. You can still use it, but you would need to write the tests yourself. I think SmartDefense is one of the good features and it's not that expensive.
SmartUpdate is partially free, the part that lets you manage licenses. The first tab is what costs money.
Like Northlandboy, I rarely use SmartUpdate for precisely the same reasons he quoted. I like to see what's going on as it occurs. I do keep the SmartUpdate repository up to date with the various packages in case I should need to use it for some reason.
For R62, you go to the downloads page and go into the Upgrade Kits section. There you can get the CDs mailed to you for free.
http://www.checkpoint.com/downloads/index.html under the Quick Links section.
Ray