I have the 430EX II as well, and I use it off-camera.
If you want to use the flash off-camera without being tethered to your camera, your best bet will be radio triggers. There are a number of options for radio triggers that covers everything from budget to professional.
For budget radio triggers, you'll want to look into YongNuo or Cactus V4 triggers. When you use these triggers, you're giving up all the fancy stuff (second curtain sync, TTL, etc.), so you'll be shooting full manual. There are some differences between the two brands, so make sure you do your homework.
For a middle-of-the-road option, there are CyberSync radio triggers made by Paul C. Buff (same company that produces AlienBees lighting equipment). Again, you will have to shoot full manual with these triggers. Also, these triggers will not "wake up" your 430EX II if it goes into standby - just something to note. I use CyberSyncs and love them. I haven't had one misfire so far.
For the professional budget, there are the triggers you mentioned - PocketWizards. These allow you to shoot as if your 430EX II was attached to your camera's hotshoe. You have the ability to shoot TTL with these triggers, and they are very reliable. But, be prepared to drop some serious cash on them.
So, to answer your questions: The PocketWizard is a radio trigger that will fire your 430EX II off-camera. You can use PocketWizards to fire your 430EX II, but it's an expensive option and not your only option.
I hope this helps somewhat.
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