Can someone let me know exactly what I am looking at?
It's audio noise. If you receive a signal that has only a strong carrier with no modulation it will say 0. When someone begins to talk on a conventional analog signal it starts to indicate "noise" that are the audio level. If you receive a data signal from a digital system it will always show a value as it detects the data as noise.
You can only use this in analog mode, and when there is no modulation, to try different filters and IFX to see if you can lower the noise as you then receive a more cleaner signal.
The same thing can be done to digital systems when using the bit error value and try different setting to bring down the errors as low as possible. If you instead use the signal strength dBm indication using a SDS scanner to maximize your reception you might actually adjust for maximum interference, so stay away from dBm as a guide to better reception.
/Ubbe