Correct me if I’m wrong, but “Field Standby” is being on base (in your case EWR), for a last minute call to flight? Looks like a decent schedule as you mentioned, any calls during your reserve?
Yes, “Field Standby” means exactly that, standing by at the airfield you are based at. For us it is four hours long and for me personally usually consists of a trip to both Qdoba and Starbucks.