The Map Settings box allows you to control the appearance of your map and provides location and scale information.
You may choose to display a Microsoft Bing Maps for Enterprise™ base map or no base map. Available Bing Maps settings are road, hybrid and aerial. Consider the nature of your data when selecting the most appropriate base map for your project.
This is actually an overlay rather than a base map. When you check this box, tile boundaries, quad keys, rendered zoom level, and location in map units are displayed.
The information supplied in Mouse Position is the position in both map units and geographic coordinates.
Map Scale provides the exact scale at which you are viewing your map as well as the zoom level, important to know when working with tile-based maps.
Set Extents allows you to define your area of interest. Clicking on set extents defines the scale and position your map will be displayed at each time it is opened.