Yours is essentially an APAP. Resmeds have been able to adjust for exhalation for a while now, and also ramp up from low pressure. BiPAPs are generally for those with congestive heart failure or other breathing problems who actually have both a prescribed inhale pressure and a prescribed exhale pressure. They are more expensive.
Sounds like you're pretty knowledgeable. Mine is also a Resmed but it is the AirCurve model. They originally sent me out with the AirSense model then called me a week later and told me to bring it back in I was supposed to get the AirCurve which is the BiPAP. You are right the BiPAP is about double the price.
Continuous Positive Airway Pressure. A small constant push of air to help keep the upper airway open for those who have issue with it closing during sleep.
I used a CPAP for a while. I gave it up in favor of sleeping on my side. It was when I would sleep on my back that I would sometimes wake up with the sensation that I had swallowed something and was going to choke to death. I had simply stopped breathing. It doesn't happen anymore since I sleep on my side. But I suppose I'm living dangerously. But oh well, I can't think of a better way to go than to die in my sleep.