Confusing? Well the good thing is that no-one needs to care. Just open theme maker, set your theme name (no spaces), set your name, select bg file, select template file, select icon file, set theme version, top bar height (I recommend 60 - remind myself to put that as default, now it's 45), then set font sizes, font names, add a .ttf font if you want to install new font to the system. Click on the build theme and again on build theme on the next page and POW! You are done. Your own theme with your own font and your own icons. Currently only the home screens four icons are supported, I'll add the rest on later versions. Anyway, you still need to make the theme look your own, but to do that, all you need is photoshop (or any other similar tool) and a little patience. I've myself been especially using the fonts to get some sweet new fonts for my fbreader sessions.
Link to download: Download at garage

Please note that the icon template seems to be mandatory in this version. Looks like 1.1.8 is coming sooner than I thought! ;)