How do i manage and run 2 separate systems, such as when an item drops, and it is and "ALL" item well everyone will bid, if it is an Class Specific item then how do i do the point system for Class Specific vs. All

From the Admin menu, just click "Create new DKP System" and call it something like "Class Specific."

You'll probably want to use the Mass Raid Copier then to copy Raid Attendance from one system to the other.

And, of course, make sure that you assign the items received to the proper DKP System.

How does it make it a separate system, in the way of earning points / spending points... hard to explain, like how do i know whento award points to just the class system vs. the all system.

I've actually done this as my guild had a class and cross class list for Blackwing Lair. What I did was make two separate DKP lists, Blackwing Lair Class and Blackwing Lair Cross Class, and I would manually take two snap shots at the beginning and end of each raid (our points were by raid and not kill) and just sort the items as they dropped. It really wasn't that much extra work and it was nice to have them completely separate on the forums. I can tell you that from now on though, we're never going to have two lists...lol...If that helps.