Would someone explain the NODES stanza of rpt.conf?

[nodes]
110=radio@127.0.0.1/110,NONE                 ; My node on this computer (local)

If my public repeater/node is configured to be repeater controller/Allstar/Echolink:
  1. Should ANYTHING be in [NODES}?
  2. Allstar would be: 42996=radio@127.0.0.1/42996,NONE?
  3. Does the Echolink node be added like Allstar?
  4. Is 127.0.0.1 ALWAYS the default regardless of router/firewall/IP address?
I see this template everywhere in the rpt.conf setup with no explanations as to details. Like do ALL nodes, public/private/link/repeater get entered the same way except for node numbers?

Thanks,
Duane KA1LM #42996