Hi Brian,
Congrats! Unfortunately you'll find many different answers to your questions based on personal taste. Briquettes vs. hardwood, electric coil starter, petroleum-based starter, or chimney, et cetera.
For years I used a mound of briquettes in the middle, doused them with a bit of fluid then lit it. When the coals were dusted with gray ash, I'd spread them out a little to make a bed for cooking over. The briquettes burn linger and hotter than hardwood. However, when just cooking for myself, maybe just a steak, I'd use hardwood.
The vents in the bottom help control heat by adding or taking away air circulation. Open them in the beginning to get things started. If you need to cool things down a bit, close them partially.
A lot of people swear by a chimney where you ball a sheet or to of newspaper in the bottom and fill the chimney with charcoal. Light the paper and the charcoal takes care of itself. I found a chimney at the transfer station at the end of last year, but haven't had a charcoal fire since then to try it. No petroleum, no smell, no possible after-taste.....
Cooking times will all vary based on the heat of your coals and where the food is in relation to the coals (height over the coals, directly over them or off to the side, et cetera). If you need to cook low and slow, put the coals on one side and the food on the other, or the coals on two sides and the food in the middle with no coals underneath.
See if you can find Steven Raichlen's The Barbeque Bible. It has a LOT of good information, especially for those starting out. I was lucky enough to find mine in an antique co-op for something like $3. The link below is for eBay sales of it, and you should be able to get it for about $10 with shipping (try Amazon too).
Good luck and have fun! Just remember that meat needs to rest after you take it off the heat or the juices will run all out of it instead of back into it!
Chuck
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