SABnzbd has lots of configuration options. Most have a sensible default and need no changing unless you have special needs.

The Server section you have to fill in, otherwise SABnzbd will not know were to download from.
Also have a look at where the download directory is located and you may want to checkout the Email part.

All configuration data is stored in the so-called INI file. Which INI file used, you can see on the Configuration main page.
The default location is:

Windows XP/2003 c:\documents and settings\user\local data\application data\sabnzbd\sabnzbd.ini
Windows Vista or 7 c:\Users\user\AppData\Local\sabnzbd\sabnzbd.ini
Unix $HOME/.sabnzbd/sabnzbd.ini
OSX /Users/user/Library/Application Support/SABnzbd/sabnzbd.ini
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