Translation:Da, la revedere!
I guess my problem here is to know what's the big difference between saying goodbye and bye, which I would essentially use for the same thing...
Yes, "goodbye" is more formal, though it can also be used informally. If you are speaking to someone you would address as "sir/ma'am" use "Goodbye" For a close friend you would address by given name or nickname either is correct, though I expect "bye" is more common.
Perhaps the Romanian is similar in this respect.
why does it matter so much if you use 'la revedere' vs 'pa' like I get that one is more formal, but it's just. la revedere is more like saying 'i hope to see you again' it's not.. goodbye... and i feel so angst