Styling elements brought in with "custom fields"

Have not had the chance to try this extensivly.
but it is my impression that you can’t style text, when you bring that text into the page w/the “custom field” component, am I right (i’d imagine & hope not)?

Sure you can. When you call the custom field in your theme, either surround it with a span or div, or add a specific class to the element that you’re adding it to.