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Each site you have set up in your google analytics has a site ID number. Usually looks something like this: UA-1234567-3
It can be found next to your site in the web profiles part of your google analytics overview.
New vs legacy, there are 2 versions of the code from google for tracking. They've labeled them "new" and "legacy". You'd have to research the google to know which is better for what reason. But I imagine that new is better. But if you don't think so, you can choose legacy.
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