I am one of those experts, in fact, I am the only one here who actually tried to do something with it. Although it was a while ago, before you even joined this board.
Webfonts are embedded in the webpage. They are also called embedded fonts. These font files reside only on the remote server in the same directory as the webpage. When somebody loads a page that utilizes some embedded font, the embedded font is automatically downloaded and implemented by the browser from the remote server on the fly. The font is not going to be installed on your local machine. It always resides on the server. So no burden of downloading a font. It's all handled by the browser.
If you are the creator of the webpage, you need to create an embedded font for your own webpage. You have to use the micrsoft free software WEFT to do that. There was another program from another company, but it folded recently. Then you have to incorporate that embeedded font in your webpage using a css style code.
Search on Google for embedded fonts. There are a few hands-on, step-by-step tutorials on this very subject, I am sure.
Prothom Alo and Bhorer Kagoj have been using embedded fonts for their websites for months now.
[Edited on 28-12-2003 by Arnab]