USB Circuit assembly

We have been provided with a 1GB uncased circuit board, like the above (in green). It is our choice whether we wish to use the whole board or use the shortened version in our USB design. (dimensions shown in the top image)

What exactly are all those 'bits' on the circuit board?

Below, I have researched into the electronic components on the circuit board, to help me understand the function of the PCB better.
1) Standard-A USB plug: provides a physical interface to the host computer
2) USB mass storage controller: a small amount of on-chip ROM and RAM
3) Test Points
4) Flash Memory Chip: stores data
5) Crystal Oscillator
6) LED: indicates data tranfer
7) Write protect switch: enable or disable writing of data into memory
8) Space for second flash memory chip

Creo images for USB Circuit development

Final Circuit Assembly