The things you need to install are in this simple guide
There is nothing else to get the most of the game.Basically and this might be confusing is that
the development team is giving us a version which is the same as they use.So every update-no matter how
small is immediatelly given to us too.However updating and keeping your saves is sometimes not possible.
So don't upgrade if you want to keep your saves.You can keep your character though after updating
simply by importing him to your new game.
The lance thing you probably red in the forum is a new system of recruiting soldiers.
Using the lance recruitment system means you can only recruit troops from villages you own. They are free to recruit if your current faction is at war and vice versa. With lance recruitment you're able to form up a larger army quicker as each Lance consists of a variety of units, but these also take time to regenerate (A week for every lance I think).
Feudal lance system mechanics:
If you are fiefless lord:
You will be able to recruit mercenaries from taverns cheaper.
Your unit upkeep will be lowered.
You won't be able to recruit units from fiefs
If you are lord with a fief:
You will be able to recruit lances(each lance - 10men) from your fief.
In times of war, recruiting lances does not cost anything.
In times of peace your troop upkeep will be increased.
Castle/Town garrisons will automatically recruit units. Currently the player has no control over it. There upkeep will not be payed from players purse.
Lances composition are based on the centers prosperity.
NPC lord uses lances for there recruitment as well.
Each fief can have up to 10 lances. Except at the beginning of the game - this so the lords could successfully make parties at the beginning of the game without the need to wait for a few weeks.
Each center refills one lance each week.
It's very nice and exellently balanced.
As for the companions it's a work at progress to change the way and number of companions act.
In the current revision-update which is (90) the companions can be recruited from your village, but
that requires that you are a noble.Then you go to your village and "ask the nobles to go for a hunt".
If you become king you get another six companions, but i haven't tried that.