For a good definition of [man]get_magic_quotes_gpc[/man], check out PHP's site.
As for the ( [stuff 1] ) ? [stuff 2] : [stuff 3] syntax, it works like this:
This syntax is a shortened form of an if().
( ) <-- required. Whatever goes inside is exactly like what an if() would need.
So, for "stuff 1", you could have: (1 != 2) which is true or (1 == 2) which is false.
Then you put a ? after the (1 != 2).
"Stuff 2" represents what to do if your condition statement is true.
Then you put a ":" after "Stuff 2" (I like to think of it as a seperator. Then "Stuff 3" is what to do when your condition statement is false.
So:
echo ((1 != 2) ? "This is true" : "This is false");
This is just shorthand for doing:
if(1 != 2)
echo "This is true";
else
echo "This is false";