I want to know the exact functionality of the Notify checkbox below the Tags field on the Ask Question page. How can I use it in the most efficient way?
Each SE site sends ~daily emails with all replies to all questions you have notifications enabled at roughly 7am CEST(?).
If you visit the site regularly, you don't need them - their refresh rate is very long (up to 48 hrs), while other notification mechanisms like the StackEchange(tm) MultiCollider SuperDropdown (tm) are updated at every page refresh.