Actually newer versions of OpenLDAP store their configuration inside itself only, classic text configuration file is depreciated, if not removed already. This feature is called cn=config in OpenLDAP [ http://www.openldap.org/doc/admin24/slapdconf2.html#cn=config ]. Thing you're probably thinking about is dynamic ACI ( not to be confused with ACL which is also provided ), and sure, LDAP, in general, provides much functionality like that. There are also monitor backends provided, in general LDAP likes itself, and is driven into self-managed direction. However, it's purpose is quite different than RDBMS, it's optimized for search operations, but not manipulating data and doing computations on it. Think it that way - e.g. user information, or DNS information is retrieved enormously more times than modified, and that's field in which ldap rocks. You actually rarely need suming UserID's, don't you? :) Object oriented database means, that - in contrary to RDBMS - data is organized with the way closer to OO type ( classess, attributes, inheritance etc. ). There are also SQL backends to ldap ( don't know what sense does it make though ), but I haven't heard about LDAP backends for SQL database.
Have a look on OpenLDAP Administration Guide here
http://www.openldap.org/doc/admin24/
Regarding storing custom information, you can create your own classes, objects and even attribute types, by inheritance/composing existing entities, or from scratch. Sky is the limit, man ;-)
