I'm confused about the number of words "learned" and in My Words.

As I understand it, any individual characters added to your queue, it is considered a "word".
However, my "words learned" is in the 400 range, but the length of all of my lists finished so far is over 700, and I certainly don't have 300 words with under 12 hour "Next to study" time.
The description in the FAQ on difference between Words & Characters doesn't quite address this... just says that characters within words count as characters learned even if not in your queue.

On the other side, I just exported all my "Words only", and it has only 446 items... but all are 2 characters or more... so all single character words don't count as words?

(Actually, sorting through data like this is one of the reasons I wanted an API, but haven't had time to write any code (and won't for the foreseeable future)).

Words = 2 or more characters

bah, now I need to reconsider the meaning of all of my collected stats & analysis...

Wait a minute. When I learn a new word that consists of two new characters, it adds 2 to the character count, right?

Yes, it does.

It does unless u already knew one character

And for those of us studying both simplified and traditional simultaneously it's even more 複雜...

Has actually been quite a relief to let go of paying attention to how many characters / words / whatever I know.

Now just drill until it feels like I've drilled enough, add as many words to my lists as I come across in the natural course of things, and just watch to see that the lines are always sloping up when I check my stats.