Hi, I just joined today, too. I can answer your questions. First, unless you really need to because it is dirty, don't wash before. The sizing on the fabric makes it a little stiffer and easier to cut and sew. That said, very dark blues and some reds might bleed a little, even with today's fabrics. You can cut a small piece and put it in a container of warm, not hot, water. Agitate it a little and see if color comes out. If it doesn't, there is no need to pre-wash. You can also use a color magnet in the wash to catch extra dye.
Unless the directions say different, cut strips across the full width of the fabric.
A walking foot is a sewing machine foot used when quilting by machine (unless you have a Pfaff). Pfaff has a built in system.
Basic tools: a comfortable rotary cutter, a mat that is about 18"x24", a 6"x18" ruler and a square ruler (12"), thin pins (I like ones with ball heads), a small very sharp, pointed scissor. A pressing sheet is a good idea, too. Don't buy one especially for quilters. Go to a discount store and buy one in the kitchen section. They use them for baking cookies.
There is no such thing as inexpensive blades. Watch for 50% off coupons at chain stores like JoAnns and stock up then. They are also cheaper if you buy the 5 pack instead of singles.
The amount of fabric depends on the pattern and size of the project. Patterns tell you. If you are buying for your stash, no less than 1 yard, and 3 is better. That way you at least have enough to back a small quilt. You'll never find it again when you want it.
I hope this all helps you. :-)