Your Windows drives appear under /mnt/c, /mnt/d, etc. in WSL. So your Windows home directory is /mnt/c/Users/ffoobar.
You can easily read/write Windows files from Linux, but I don't think you can do the opposite. I've used git within WSL to drive a repo on my Windows drive.
WSL gives you full-blown Ubuntu 16.04 where you manage packages with apt-get. You have to look close to the bare metal to see differences. Until the creator's update, for example, ifconfig didn't work.
Earlier today, I compiled and ran some OpenMP-based code in WSL and it happily detected all the cores on my dev machine and kept them busy with worker threads. Pretty cool!