So basically is using utorrent etc safe?
Your computer queries the server for a list of all the computers that have parts of the file you want, and gets the other computers IP addresses in return. Your computer starts getting information from all those other computers, they are passing information to you.
Since torrents are in small bits, even if someone had purposely infected the file, it wouldent work, since other people have clean versions. The entire file would have to be infected (as in, all the computers would have to be sending an infected file), not just bits of it, for it to hurt you in that aspect. Your less likely to get an infected file using Torrents than you are through a regular website downloading something, or through another P2P network.
As for your IP address, if you have ever visited my website before, I have your IP address. If you have ever modified a Wikipedia page, the public can look at your IP Address.
My IP Address is 66.172.101.250
Its public information anyways. Your IP address can tell this about you:
Your Internet Service Provider
The Node you are getting your connection off (this can reveal your approximate location, but, its not accurate at all)
Who to contact if you abuse your connection (eg: if you started causing complete havoc on ComputerHope, the administrator could look at your WHOIS information, find the company who manages your internet, and the phone number to call to report you)