Well the headers are pretty self-explanatory. The "type" is basically the number of extra headers (apart from Death and Init) that it will use (in a certain order, of course). They are accessed only if "use full IScript" is enabled in Images.dat, though. As for the "custom" headers, they get linked between eachother with call, return and goto. The opcodes are known (most of them). The Wait are dependent on the game speed.
I don't think the theory goes anywhere beyond that (that is in simple terms and not go through the whole exe thing). Personally, I'd prefer the compiler and the preview to be a 2-in-1 (not decompiler though), that is to actually know how the unit will look like in-game, but if it won't, it's no problem.
I just don't like having 6-7 programs running when 3-4 are enough
Anyway, I look forward to this since atm, the best we have is CV5 to preview IScript, and let's face it, it's as buggy as ICE.
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(in a certain order, of course) <- not sure what you mean with that. Do you mean used in different situations, because afaik the iscript itself wont execute other subscripts.
and I dont even know what CV5 is.