I agree with loveinspanish that Elizabeth Zimmerman is one of the better teachers out there. Knitting without Tears and The Knitters Workshop are 2 of the best beginners books with DVD out there. I wish I they were available when I was learning how to knit, and knit in the round.
Knitting needles are a very personal choice. What ever needle you like using is the needle for you. If they are sold at a knitting shop near you Chiaogoo knitting needles (fixed circular, interchangeable, straights, and double points) are one of the best quality needles available, but they dont cost a fortune. I use them exclusively now, because the quality is so good, and the price is really good too. (Where I am a fixed Addi circular needle costs $24 and a ChiaoGoo of the same size and length costs $7. Big difference but as far as Im concerned, the Chiaogoo are the better quality. The cables are fantastic. Just my opinion.)
I started knitting in the round about 3 months ago. I purchased a set of Bamboo circulars from china - 10 different sizes for about £6 - and watched lots of you tube videos. It took a while especially as I have always held one needle against my body and the size of circulars does not allow this so it was like learning a totally new method of holding the needles. It is well worth persevering, ( I was about to give up then it all fell in place ) the end result is so much neater, very little sewing. If you get frustrated just put it aside for a couple of days and try again, you will get there in the end. Re needles I have just ordered another cheap set of bamboo circulars from china so I have a spare set, I really like them.
Good luck !
At first I was really afraid to try magic loop circular knitting, but it turned out to be very easy! Its much less fiddly than double pointed needles, although I still get laddering sometimes.