Hey, I am trying to figure out what all the stats on the StaticMesh do.
I know what the vertices are, obviously :D.
The triangles are the sections between 3 of those.
But then, what do normals, UV0, Vertex Colors and Tangents/Bitangents represent for it ?
Do I need to consider adding them when building a ProceduralMesh or are vertices and triangles enough ?

Normals represent a vector perpendiculat to the reference. So a vertex normal points outwards from the vertices. A triangle normal would point outwards perpendicular to the plane of the triangle.
UV space maps the area of a triangle to a plane that extends in float point coordinates from 0-1. That is used for texturing and (baked) lighting.
Tangents are perpendicular to the normal vectors

Usually you are fine with vertices and polygons.
You can use the normal vector info in materials to create interesting effects like angle dependent roughness, etc.