Answering my own questions after scouring the internet for answers.
Lurker What is blatant spam and how does it differ from regular spam?
Akismet will regularly scan the contents of the posts and if it meets a certain threshold, the post will be marked as probable spam (which will then be hidden and flagged for review by the admin/moderator to decide if itโs spam or ham) or blatant spam (overt spam).
Lurker Do you get notifications for both blatant and regular spam?
For probable spam, yes since it will be flagged for review. For blatant spam, I assume that there will be no notifications as the post will be deleted immediately.
Lurker Is enabling it the recommended setting?
Yes, it is safe to let Akismet do what it does best - fighting against spam. So when you enable this option, the post gets deleted right away instead of being flagged for review.
This post can now be closed. Thanks!