Got a 1000watt HPS and Co2 tank, Have questions

I bought a 1000watt HPS and Co2 tank with a regulator from a buddy of mine today. I wanted to do a DWC setup, but im more interested in a SOG and doing dwc down the road.
I'm getting some clones from my friend as well and i want to turn at least 3 of them into mother plants.

Annnyyywayy about this co2 tank...he told me to get a hose and plug the end, and poke very tinyholes every few inches and let the co2 from the bottle leak very slowly as well. and with the tube, run it around the area of the plants so the plants get little bits of co2 during flowering quite often.
Is this correct? and if so how should i read this valve, does it look familiar to anyone?

http://www.hydroponics.net/learn/co2_calculator.asp this will helop you out, as for administering the co2, you can take the aformentioned 1/4 tubing and attatch to an ocsillating fan, co2 is heavier than air and you will need to spread it around and let it stay afloat, you dont want it below canopy level, you want it going to the leaves

thanks for the info. i bought about 10 feet of 1/4 inch plastic tubing to wrap around about a foot away and above the plants. im really hoping the co2 will also help keep the temp. down, its almost 90 degrees in there, no good.