I just started this week with the Arduino, and it seems to be going well.
I've done the basics (hooking up various LEDs, getting RGB LEDs to work properly, driving a small motor, built the Adafruit Proto-Shield) and think I'm ready to start on some more advanced projects.
I ordered two LCD's (one 2x16 and one 4x20) so those should come soon. Additionally, I supplemented my Arduino with a Seeeduino from Makershed.
My project for the LCD's is going to be to the following: