Here's about all you need to know:
#1 The faster a disc is going when you release it, the further it will go.
#2 The faster a disc is spinning, the harder it will try to not deviate from it's initial flight plane. (I.E. the less it will flip or fade)
#3 The faster a disc is going when you release it, the more understably it will act.
The actual physics behind them all are pretty complicated (except #1).