Why are none of my AB setting set for them to email me.....Yet I have like 500 emails a day from answerbag?

There are two ways to receive emails from AB (Well, five, actually), but two you can control.

ONE: Your preferences: Your profile / My Settings tab / Preferences option. I have only turned off the top three notifications, and receive no emails when someone comments or rates my answers. (THEY appear on the feedback page.) I may wish to turn the other (updates answers) back on, so I can see when someone changes an answer I gave a rating to.

TWO: You have a "Watch List". These are questions and categories for which you would like to receive emails. ---> For your OWN questions: Under the question box on the question page (the one with the three similar questions on the right side and the category list on the bottom left), there is a checkbox immediately under the question box, "Email me when this question receives answers." Turn that box OFF (uncheck it). NOTE: This, also, appears on your Feedback page.
--> For your answers, just above the submit are two checkbox questions: "Send me new answers to this question" and "Send me new questions in <category>". Make sure both of these are turned OFF (unchecked). The first will send you, well, new answers to that question. (It's related to the old "Watch this question" button.) The second will send you new questions in whatever category you are currently in.
-->NOTE: Those checkboxes remain in the state in which they were last submitted, so if you wish to watch a single question, be sure when you answer, again, you turn it back off. I believe the category question defaults to OFF all the time.

Now, you will have to clear out your Watch List, which tells AB for which questions you wish to receive emails, and if those boxes have been ON for a while, it may take a while, currently - Sorry. In your Profile, again / My Settings Tab / Watch List option: If you have any categories listed there, click the DELETE box on the right side of each. Then, go through the questions in the list, clicking the DELETE box by each for which you no longer wish to receive emails. NOTE: You will NOT be notified for others' questions if you turn them off, here. For example, I have the congrats questions by friends for reaching levels, and a couple of others I wish to "watch", but nothing else. When all you don't wish to watch are checked on that page, click the DELETE button at the bottom of the list. (This only deletes them from the Watch List.) I did this a page at a time. I'm not sure if more than one page can be done. I didn't take the chance. NOTE: Currently (09/29/2009) there is no way to click a single checkbox or button and set ALL the checkboxes on. It's a pain, but it will help your email situation, immensely.

I said there were five ways you will receive emails from AB. Technically, there are more, but the above should handle most of the emails you receive, the following are for other reasons:

THREE: One of your questions has been flagged, and accepted by staff, as either spam/offensive, nonsense, or a duplicate. You cannot turn this email off. It's handy in that you will not otherwise be notified, and if you wish to argue the point, you need to know about it. For a couple of those, you are not (currently) sent the link for the question, so you will need to go to your Profile / My Q&A / Questions, and look at the status of your more recent questions. If the status box does NOT say "Active", that was probably the question flagged as spam/offensive or nonsense. If you feel it was flagged in error, go to that question's page (click the question on your Questions page), scroll to the bottom of the page, click FEEDBACK, and state your case in the comments box. And, yes. Feedback DOES work. You could also reply to the email you received. It goes to the same place.

FOUR: You have flagged a question or answer. If AB staff agrees with you, you will not receive an email. If they DON'T, though, you will receive a rejection for that flag. NOTE: Currently, you only receive the question you flagged, which means if you flagged it a duplicate, you will have to REMEMBER what you flagged it to. Note, also, that once you flag a question or answer, you should NOT be able to flag it again. (Handy tip: Keep track of the dupes, at least, in a table... The question you flagged, and the one you flagged it a dupe of. Again, you CANNOT, nor should not, be able to turn these emails off. Checking out the link(s) involved, will help you learn what's accepted and what's not.

FIFTH: You are SUPPOSED to receive and email when you are PBed, explaining why, and until when. I understand these have NOT been working. I have notified staff of this. Again, THESE emails CANNOT, nor should, be turned OFF. Otherwise, you will wonder why you can no longer do anything on AB, but sign in, and read your answers/comments. (You WON'T be able to comment back.) If you disagree with the PBing (only CLs and staff can PB you), you can try to contact staff at admin@answerbag.com, and explain. Sometimes they've been known to commute or shorten the sentences. There are various reasons you can be PBed, among them (not necessarily a complete list): excessive profanity; attacking other users, usually nastily; spamming the site, usually more than once; offensive behavior; circumventing a PB of one account by opening another, and continuing to AB; etc., MOST after a warning, but that's not necessary. NOTE: Continuation after a single PBing can get you PBed for longer, including LIFE.

Other reasons exist, but are rare.

I think that covers why you might receive the vast majority of emails from AB. If you are receiving anything else, let me know, and I will add them to the above.