No, I don't think I am more confused.
At this point, the only podcast is the sermons, but for flexibility, I guess I would like to keep 2 different channels. So, for the new custom post type channel containing the sermons, how do I get that into iTunes? Can I get it put to the same URL as the other channel or do each of the channels need their own iTunes URL? In other words, keeping the two channels, with the custom post type on "channel 2", do I need to register channel 2 as a new podcast with iTunes with its own URL? And then notify any old subscribers of the change of address?