>Ah, the difference is that with iterations, there is never an 'end' and goals are just epics.
Jira uses epics in the same way. And I'm not sure what you mean by "there is never an 'end'" - how does that differ from sprints? Iterations and sprints are just two words for exactly the same thing.
Correct, all larger stories should be broken down.
To be super clear, this is not my own thing. =) It is Pivotal's thing. I am just explaining the process as it was taught to me.