What does a ft-lbs mean?

Does a foot-lb, mean that something has the ability to move something one foot that weighs one pound?

It's a unit of energy. Remember that energy (or work) is a force times a distance. In the case of ft-lb, the force is one pound and the distance is one foot. The difficulty is that 'pound' has two different meanings in the english system: one is a force and the other is a mass. A pound of force is the force on a pound of mass under standard gravity (32 ft/s^2). So a ft-lb is the energy required to raise one pound of mass a distance of one foot against gravity.
Yes you are right on in so much time.

the amount of energy or work needed to raise an item weighing one pound, a distance of one foot.

Work - Work is force times distance. The force is that force (or component of force) in the direction of movement times the length of movement. Typical units are ft-lbs, ft-kips, N-m and in-lbs. For example, if you raise a weight of 75 pounds from a height of 3 feet to a height of 5 feet, you will have done (75)(2)=150 ft-lbs of work. Work can also be defined as moment times the angle of rotation for circular movement.
Foot-pounds is a measure of moment (torque).
If you want to tighten a bolt to a specified 10 ft-lbs you can pull with 10 lbs on a 1 foot wrench or at 5 lbs on a 2 foot wrench, and so forth.
Yes...In Imperial units, Work is done when a Mass is moved.
Work = Mass (LBS) x Distance moved (FEET) = FT-LB.

Example: A crane lifts a load of 2000lbs to a height of 8 feet onto a truck. How much work is done ?
Work = M x D = 2000 x 8 = 16,000 ft-lb of work.

(Long ago, it was found that a horse was capable of lifting a mass of 550lbs to a height of 1 foot in 1 second. (Using a pulley system).
This gave a number of 550 ft-lb/sec and is still the definition of 1 horse-power. (33,000ft-lb/minute).

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