More background about integration, portlets and the relationship between portlets and WCBs can be found here:
http://www.gxdeveloperweb.com/Blogs/Martijn-van-Berkum/WCB-portlet-int...
The portlet standard (JSR-168/268) is meant for portal environments (not consumer portals like Yahoo, but internal systems for knowledge workers). It can be applied to consumer driven portals, but applications like intranets are more suitable. A portlet is a superset of servlets. For example, a servlet has the well known doGet and doPost methods, portlet has three additional views: doView, doEdit, doHelp, and the portal container can invoke those methods to show the view, the edit/preferences or the help message. It also has the concept of 'window states', so the portlet knows if the portlets is closes, maximized, minimized etc. As Michel already said, it might be a good idea to browse the JSR 286 documentation to get a better idea of the technology. This is also a nice introduction article about portlets:
http://www.developer.com/java/web/article.php/3366111
A portlet is more strict and encapsulated then servlets or JSPs. The layout surrounding the portlet is managed by the portal container. Servlets and JSPs give complete control of the layout of a rendered page.