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Default what does this forumla mean?

I got this forumla:
=SUM(IF(('[Title and Reg Chat Data.xls]FY08'!$C$2:$C$9000=W$66)*('[Title and
Reg Chat Data.xls]FY08'!$E$2:$E$9000=$C67),'[Title and Reg Chat
Data.xls]FY08'!$A$2:$A$9000,0))

I understand it is going to the worksheet title and reg, to worksheet fy08,
looking at the range c2:c9000- what is the = w66? As well as the = c67? I
know it is an if asking if those ranges = those cells, but what is the true
part? and how does sum fit in?

Thanks!!!
 
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