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The fact that you are updating the lease time is specified through the option-id for the lease time option. Let me explain this command: scope 10.0.0.0 specifies that you are going to change the lease time of the scope whose id is 10.0.0.0. 51 is the option-id for the option Lease time. This is an IETF assigned number: http://www.faqs.org/rfcs/rfc2132.html DWORD is the datatype of the lease-time option. And finally 3600 represents the option value in number of seconds. Compare this to the way you edit the lease time in your snap-in.
1 DHCP then updates the appropriate network servers with the IP address and other configuration information for your computer.  Your computer (or whatever network device you're using) accepts the IP address for the lease term.