First off, take a class if you haven't done so. Find a reputable teacher
and go for it. Some things are easier learned by being shown how than
through a book. If you get a good teacher, you will avoid forming bad
habits at the outset that you will have to unlearn later.
Where are you located? Someone here can give recommendations for a teacher
I'm sure.

Torches:
Hotheads are loud.
The flame is cool and slow to work with, it is bushy (it doesn't have
clearly defined edges to work with), and you can't adjust it to do fine
work.
Unless you get a large refillable container, the 1 lb MAPP gas bottles need
to be changed every 30 minutes or so to get the most use out of them and
then you have to throw these metal containers in the already overtaxed
landfills.
If you make beads 10 hours a week, in less than 1 year you will spend more
money to operate one that it would to buy and operate a minor burner.

Minor burners are quiet.
Not only can you adjust the flame size on a minor, but you can adjust its
composition (oxygen/gas ratio). The flame is adequate for doing work with
borosilicate.
One tank of propane (the kind you use on a gas grill) should last 6 months
to a year and it can be refilled for about what two bottles of MAPP gas
cost.
Minor burners are the workhorses of the beadmaking world.
The original outlay is a bit more, but not prohibitive. Plus if you decide
to get rid of it, it would be easier to sell. Check Ebay and such. You
often find used Hotheads, but rarely do you find used Minors. There is a
reason for this.
You can never go wrong buying good tools.
There are other good torches out there, but I can't think of one that offers
a better usability/price ratio.

Favorite books:
Making Glass Beads by Cindy Jenkins (ironically she either owns the Hothead
or is highly involved with that company) - excellent beginners books. Lotsa
pretty pictures. Also it has a sequence of techniques that could be used as
a primer.

More Than You Ever Wanted to Know About Glass Beadmaking by Jim Kervin -
excellent reference book for techniques. Has a good section on setting up a
studio. Many techniques explored in detail. Take the title seriously. It
is a reference book you will use for years.

Contemporary Lampworking by Bandau Durham - this is mostly oriented towards
borosilicate work, but has a great section on setting up a studio and has
some parts on soft glass (like Moretti) and beadmaking

After you have been making beads a while, check out Jim Kervin's series of
small book profiling individual beadmakers and their techniques. Last I
heard there were four: Leah Fairbanks, Kim Fowle, Sharon Peters and Jim
Smiricich.

In lieu of a teacher, there are a number of videos out there. Lewis Wilson
has made the most. Kim Fowle has one or two. There are some others. They
are all equally boring but informative.

Websites and such:
International Society of Glass Beadmakers has a site with a forum and such

Wet Canvas is a place for glass auctions

rec.crafts.glass - this newsgroups is more oriented toward glassblowing,
fusing and stained glass. But more & more lampworkers are starting to hang
out there

Suppliers:
C&R Loo - usually the best prices and overall selection of glass

Frantz Glass - has greatest selection of Moretti colors, often they will get
colors in before anyone else does, and good prices. They are trying to stay
up on all the latest tools and such.

Arrow Springs Glass - Good prices and selection. An ever expanding catalog

Glasscrafter, Inc. (there is another company called Glasscrafters out of FL
that is more oriented toward stained glass) - they have higher prices, but
often have tools that are hard to find elsewhere

Wale Apparatus - their prices are often a bit high also, but they too have
unusual tools

Sundance - I really like their kilns. Inexpensive, reliable, and easy to
service if something does go wrong. Good selection of glass and tools. I
have always received good service from them and I have never heard a bad
report on them from anyone I knew personally, but there are those on the
newsgroups who say they have had problems.

--
There are no mistakes, only unexplored techniques