Welcome to the site!
My advice is buy the best protective gear you can afford. The pavement is not a gentle or forgiving mistress
Trust me...
It doesn't have to be the top of the line stuff. You can get decent gear nowadays without breaking the bank. Even a drop at a standstill can do more damage to you than you might think. We recently had a member experience a tip over where he was unable to get away from the bike and it pulled him down, whacking his head on the ground. Fortunately, he was wearing a helmet, but even then it still really rung his bell!
Tourmaster makes good gloves, jackets, pants, and boots at very reasonable prices.
HJC, ICON, and Shark all make good DOT approved helmets and you can usually find a decent one in the $150-250 range without too much trouble.
I like
http://www.revzilla.com/ for shopping. They have great videos where they go through the features of the riding gear. They are super easy to deal with for returns. They don't ALWAYS have the lowest price, but more often than not they either do or are REAL close to the lowest.
As for riding advice, I REALLY think every rider should read Keith Code's stuff on the seven most common survival reactions when riding and why they are NOT the right thing to do. Then he goes on to explain what you should do and why. He presents it in his book Twist of the Wrist Vol II.
[ame="http://www.amazon.com/gp/product/0965045021"]A Twist of the Wrist Vol. 2: The Basics of High-Performance Motorcycle Riding: Keith Code, Doug Chandler: 9780965045025: Amazon.com: Books[/ame]
He is a former racer, BUT the stuff in the book directly applies to riding on the street, even at legal speeds. It has saved my bacon on numerous occasions!