vilas, that's a very nice description of the Airbus system and should help a lot for someone trying to understand FBW.
TC, it's also an important point to emphasize that FWB is not the same as "protections".
Protections may be built into the system but they are separate from a FBW flight control system.
In terms of controls like the thrust levers, they could be dining-room dimmer switches for all the system cares! They are "shaped" like throttles out of convention and on the Airbus act more like "engine room telegraphs", setting power regimes in the various detents in which the autoflight/autothrust system then respond.
In the end it is most important to understand that the Airbus is just another airplane and can be flown just as any other aircraft. When one is trained on it and as a pilot, puts appropriate work into learning the airplane, it is a straight-forward machine and a treat to hand-fly both for the approach/landing and at cruise, (although not in RVSM airspace which legally requires the autopilot remain engaged!
The autoflight system for the A320 & A330/A340 is described at Smart Cockpit - a visit there would be enlightening. Happy reading!