Hey Netti.
I'm sure BB will get around to this thread and give a very different answer, for some parts of this, than I will give.
The talmud can be broken down into the mishna and the gemara. The mishna is fairly straightforward, not a lot of actual discussion going on, not so many different perspectives presented. That was compiled in 200 CE by Yehuda HaNasi. The conversations, as I mention in the other thread, go back a few hundred years. The gemara is written around the mishna. There are actually two gemaras, there's the jerusalem talmud and the babylonian talmud. The babylonian talmud is generally more relied upon. It makes more sense, was finished later, but the jerusalem talmud spends more time on agricultural laws which is also important. The babylonian talmud was finished being compiled around 500,600 CE. There's some disagreement about when it was completed, though it never really was completed because of the nature of Jewish scholarship. People kept writing more, some of which ended up in publications of the Talmud itself, some of which carried on to other texts which carried on to other texts and so on. The gemara varies a lot from the mishna. The way it's framed, it's a discussion of the mishna. But the discussion doesn't really stay on topic. It'll make references to alternative sources -- there were other compilations besides the mishna that were similar but contained varied rulings in some cases -- look at the biblical roots of the mishna, tell stories about the Jewish sages and about biblical figures, pass on adages, legal rulings and ethical teachings. And eventually it finds its way back to the mishna and keeps going.
The Talmud, as I see it, is an attempt to take the practices of the people at that time and religious innovations and connect them back to the Torah while presenting a system for continuing to do so in the future, one which could change and adapt over time by applying the same methodologies as are applied in the Talmud. You asked in the other thread about the roots of the Talmud in the Torah. Much of the talmud has its roots in the Torah in that it operates according to a system of exegesis to show how things connect back to the text. The 613 mitzvot or commandments of the talmud are biblical in origin. It does, however, say a lot of things that go beyond what's in the written Torah by expanding upon it. It would be impossible to understand rabbinic Judaism from the Torah alone.
The tradition is that there's a written and oral Torah that were passed down on sinai, though opinions on what the oral Torah is vary. One idea is that the oral Torah is the methodology for application. In pirkei avot, a mishna without a gemara, at the very beginning of it a lineage is drawn out going from Moses all the way down to the rabbis.
For me, the Torah is like a skeleton. All Jewish writings root themselves in the Torah and connect back to it. I think BB has remarked, in response to my objection to finite revelation, that to him the revelation of Torah is not really finite because it continues to this day.
-- Dauer