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A filter is a subset of the saved search, and is the "wussier" version of a "saved search"
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FAQ
What does the Star icon do?
It's the "search analyzer." It examines your query to see if it is optimized (ie. will it run fast?). An optimized query will use indexed columns for searching. The star makes you think it would do something awesome. But it doesn't :(
How do I reduce the number of result columns I get?
Use fieldsets. You can select what you want with "Fields: ..."
As an example, try the "DMCA_1" fieldset. Or click customize... to define your own.