You must specify a family name (in Font Info > Font) and a style name (in Font Info > Instances). In the instance, you can add a file name parameter, and the style name does not have to be called Regular.
One more question off topic: I have my fort set to UPM 1000. A few of the glyphs are wider than 1000 (up to 1380), is this OK and considered best practice?
The UPM has nothing to do with the width of your glyphs, but with their scale. As long as you are below 4000 units, your width should be fine. There are some compatibility problems beyond that.
Do I I understand correctly, my font has to be named ‘Name’ + ‘Instance’ …it can’t just be ‘Name’? As it will always add ‘Regular’ to name if I do not specify and instance, however I am unable to have nothing in the instance?