Hey Jason, in case anyone else wants to know: I have figured out how to customise the CKEDITOR select list to display what ever tags I want.
So for example if I DONT want the enduser to use H1 tag I can simply add this line of code to the CKEDITOR instance in the php page im working on:
$CKEditor_config["format_tags"] = "p;h2;h3;h4;h5;h6";
So the above is great if I have many instances of CKEDITOR in my backend admin that may do different things...if I want something more widespeak I would simple add the below code to the config.js file for CKEDITOR which is found in its own directory under WebAssist
config.format_tags = 'p;h2;h3;h4;h5;h6';