As for getting fabric reasonably, go to all the thrift stores in your area, browse everything and also ask members of the staff if you can leave your name for when they get fabric in stock. Best way to learn about fabric, is to spend time at your lqs (great sales - get on their mail list), or Joann's etc. Fondle the fabric, get to know what quality looks like. You need a large cutting mat - self healing - get on Joann's or Hancock's mailing list - use the 40-50% coupon to build up your notions, buy batting. Buy Aurifil thread #50 - in shades of grey for piecing. Or gutterman - you don't need all the colors unless you are a purist.
Also buy the Olfa 60mm cutting wheel, and lots of spare blades. I like the Alto's cutting system - I have the accuquilt but do not use it unless I am making lots of the same cuts. And it is hard on my arthritic rotor cuff (surgery maybe this winter). Best of all, practice - practice, good luck, my first project is still an UFO - really kinda messy, but I did it hand piecing on the plane when I commuted from NJ to CA every week for a year. Also did alot in the hotel room - then I took beginning lessons at my lqs - oh yeah, find out if your lqs has classes for beginners - I also find a live instructor is better for beginners. Good luck, keep us informed - we love converts to quilting.