Got the Raspberry Pi yesterday. Today I got the Linux image onto the SD card using Win32DiskImager which was a piece of cake. Plugged in a USB keyboard & mouse, and a $3 800 mA 5V power supply and hooked it to an HDMI TV. Booted right up.
I think the down side is that it supports only composite video and HDMI so you can't use a cheap, spare, VGA monitor. I bought a 15" TV with an HDMI port at Fry's for $69 when it was on sale last week and one advantage of using an HDMI TV is that audio is also sent over the HDMI interface so that's one less cable to deal with as well as no need for separate speakers.