Benther,
You pretty much layed it out in its simplest terms. Just to add to what you stated, the idea of the Quantum Eraser is to try and demonstrate a "Delayed Choice - Double slit". Again to oversimplify it, whenever you try and measure which slit the photon goes through it makes two descrete lines (aka behaves like a particle), whenever you dont try and measure it creates the interference pattern (aka behaves like a wave). The Delayed choice concept trys to create a situation where you measure which slit the photon goes without looking at the data. Then AFTER the experiment is complete, you decide to either keep the data or delete it before you look at the result. If you look at the result before deleting the data, you get the Descrete lines, if you delete the data first, you get the interferrence pattern. So somehow the photon behaves one way or the other based on whether you know what it did, but you didnt decide to know or not know until the experiment was already over......
The Delayed choice Quantum Eraser does not measure the photon (since the act of measuring it is suspected to be the cause of the behavior change) instead you create an Entagled Pair and either measure or dont measure that. The Data for the Entagled partner arrives nano seconds before the original photon and yet the original photon still behaves in the same manner. If you know what happened it behaves like a particle, if you don't know it behaves like a wave.
Crazy cool shit, the biggest mysery in Quantum Physics
http://www.youtube.com/watch?v=oB443oLE22w
Watch this one first, then go Watch the Quantum Eraser Vid in his link
Ok, great explanation. So, at its core, this experiment flaunts the dual particle-wave nature of matter and makes necessary the Heisenberg Uncertainty Principle. It also suggests the universe isn't continuous and operates on 'plank's time' values. And, the big mystery is how the entanglement of the particles before and after measurement bypasses all of our current models of physics.