Live rock typically acts as a biological filtration system for your tank. The bacteria / organism that grow or hitchhike on each piece are able to process nitrates and use or "eat" other debris.
Any kinda of live rock is really fine. Some "premium" live rock have more beneficial and exotic organisms on it than your not-so-"premium" stuff. However, to save money, you could simply buy 2 or 3 lbs of this stuff and have it "seed" the rest of your live rock and base rock.
Now, base rock is merely bare, completely cured rock. There's a minimal amount of organisms on. However, to save money people buy this bare rock with a couple pounds of live rock and let the live rock "seed" the base rock. Seeding is the process in which the organisms from live rock spread throughout the base rock and turn it into live rock. You typically pay more for live rock than base rock for this reason. You're buying a finished project instead of the do-it-yourself kit. Also, base rock to turn to live rock takes time. With some tanks and depending on your ratio of live rock to base rock, it could takes months to successfully "seed" 30 - 80 lbs of base rock. It's just like anything else in a saltwater tank, long, but ultimately rewarding.
Now, when you first start adding live rock in an already established tank, you do have to move at a much slower pace than if it were a bare tank. With each piece of live rock you had you'll have small spikes in nitrates, nitrites and possibly amnonia. So, like you were saying, a couple pounds at a time should be stressful, but not stressful enough to harm any of your precious fishies.