At this point, it may or may not be night terrors. As one mother mentioned, your child has many thing going on in his head from all he has learned in a day. I noticed that after a long extremely active day, at night of my babies did not sleep very good. Expecially after an event like a birthday party or excursion to ChuckyCheese. When they slept their little eyes would wiggle and they would talk, mur-mur and cry in their sleep. It was just too much in their head to digest. There was definitley a pattern.
Now as for night terrors, my son had them for alomst 2 years and there is not a whole lot you can do. If in fact your child has night terrors you will know, as your child will be caught up in an awful dreams that you just can't wake him from. And as another parent noted, the child will sometimes sit up and have eyes wide open and be crying or talking, yet still sound asleep. It is crazy, because you think they are awake yet the are totally unconsolable. Once the child is truly awake you will see a difference. If in fact, your child has night terrors it is really important to have wind down time prior to going to bed. Reading, soothing music, talk about all the things that make your child happy, happy, happy and pray for peace, happiness and a good night sleep will help you accomplish that goal. As my son got older we were able to talk about his night terrors. He was able to tell me about the "monster" or "situation" that scared him. So we would talk about it not being real and talk about all the happy stuff to go to sleep on a happy peaceful note!
As far as the lack of sleep, you child would never want you to be deprived, babies just don't think like that! And as a mom be prepared to never get a good night sleep, you will find that when you get it you appreciate it more. I found that my children would sleep solid for about 2 months then it was always something waking me up... first feedings, then teething, then night terrors, then potty training, then growing pains, then one would just walk up walk into my room and stare at me like, "why havn't you come to visit me in the middle of the night,mom?". Now they sleep through the night and I wake up and just go look in ther beds to make sure they are there and safe and their windows are locked!! (Yes, I'm wierd and a full time working mom, but my body is now better apt to an inconsistance night of sleep.) By the way, i don't think you can spoil them too much at this age... remember their only a baby once! Good luck!! CJ