But i cant quite figure out how to tag my own songs with the lyrics and get them on the player

Well, I'm hoping that in the future, this process will be a little easier, but here's the way to go for now:
1) Find the lyrics to your song(s) on the Internet.
2) Select the text of the lyrics on the web page, and copy them (Ctrl-C usually.)
3) Open the Lyrics window in WinAMP (there should be a little icon that looks like a book in your system tray.)
4) Click on the top of the Lyrics window (just so it has focus) and hit Ctrl-L to go into "edit lyrics" mode.
5) Hit Ctrl-V to paste the lyrics into the window.
6) Hit Ctrl-D to switch into "add time tags" mode.
7) Hit the Play icon on Winamp, and, as each line comes up in the song, click that line in the WinAmp lyrics window. It will add the time tag to the left of each line. Just do it once per line, and do it when that line first begins playing.
8) Keep adding time tags until you're done.
9) Once you're done, click the little wrench icon on the lyrics window and select "Save as LRC." Save it to a file.
10) Use lrctool to add the lyrics to your MP3. (lrctool is available from the emphatic page, http://empeg.webhop.net/emphatic.html.) To add the lyrics to your MP3, run the following from a DOS prompt:
lrctool lrc2sylt filename.lrc filename.mp3

Where filename.lrc is the LRC file you saved from WinAMP, and filename.mp3 is your MP3 file. Once this is done successfully, you just need to send the MP3 over to your empeg and you're done.

Another way you could do it would be to substitute Step 9 with "save as Lyrics3" and then run lrctool with this syntax:

lrctool l32sylt filename.mp3

Either way will work, but having the LRC file separate is good so you can share it with others later.

I'm working on ways to reduce the number of steps, but right now, that's how it works. Pretty soon lrcdb.com is launching, that will provide people with a way to share LRC files, which will help reduce the amount of work for everyone involved. If you're having trouble with the above instructions, then be paitent, I'm working on some ways to make this easier.

Hope this helps.