So i read that as a citizen of an EU country i dont need a resident permit, and my wife (us citizen) doesnt need one either? Is this correct? In other words we can just move down there and stay as long as we want?

Then i read i need a NIE, but the NIE would come automatically w/ applying for residency. But since i am EU citizen i dont need to apply for residency (see above) - so how do i get a NIE (me + wife)???

What other requirements are there if i am freelancer/self-employed and want to relocate to spain?

thank you!

flexy123,
eu citizens, who want to reside in spain, must register that they live here, they then get the certificate of residency with the corresponding nie number.
your us citizen wife must apply for a residence visa for eu family member at spanish consulate were you live.
when she gets the visa, she can apply for the residence card (this shows the nie number) at the corresponding police station where you fix your residence.

Here is the official guide document

For the Regulations document in English

http://extranjeros.mtin.es/es/InformacionInteres/FolletosInformativos/archivos/VERSION_INGLES.pdf

Don’t be put off by the title it also covers non EU persons.