No stupid questions around here.
The ball valve will control the flow of wort quite well. I attached some clear silicone tubing (about 3') to the end of my ball valve to control where it goes without having to move my MLT around. If you've looked at Flyguy's thread http://www.homebrewtalk.com/f51/chea...version-23008/
you can see its a nipple fitting on the end of the ball valve. Just push the tubing onto that. I was dumb and put some stuff in the MLT to store it and crushed my first SS braid pretty badly.
Ended up having to replace it. If I had to do it over, I think I would have made a manifold from CPVC tubing and press fit it together. I guess I still could, but I haven't had any other problems with the new one.
Good luck and welcome to the joys of all grain.
PS Nobody said this that I read, and I probably should have realized it, but the actual ball valve body gets really hot when you get 150F wort flowing through it. At least the handle on my has a nice rubber coating, but depending on how tight you can make it fit with washers you may be tempted to grab the body of the valve to stabilize it when opening or closing. Forewarned is not burned, LOL.