Hi Gregg,
I'm no expert but from what I understand of it :-
Multidrop - the ISP hosting your domain mail sets it up so that any mail intended for your domain name (ie. someone@yourdomain.com) is routed into a single POP3 mailbox for you to collect. It is then up to your mail server program (whether Windows based or something like SME) to log on and collect all mail that's in that mailbox as if it were a normal POP3 mailbox. However, your mail server then needs to examine the headers of the incoming mail and decide how to distribute them locally.
ETRN - I'm not really sure but I think ETRN requires your mail server to establish a connection to the ISP's mail server then send a 'trigger' command (or something to that effect) to signal the ISP's mail server to begin dequeueing the mail that was waiting for your collection. Again, my own info on this is sketchy at best because since every other ISP I've come across don't support it, I've just stuck with multi-drop. Admittedly, I did not pursue the thing in depth.
Kelvin