Hello Mychael, You'll most likely receive a wide variety of opinions about how to approach building a personal web site, so I'll throw my three cents in as well.
First, insofar as purchasing a domain name,
Go Daddy is one of the least expensive and most reliable services available. You can also use their
Hosting Services directly through their site as well, which makes it very convenient. You can create virtually all of your site content offline, then upload it all at once.
Second, regardless of which hosting service you go with, try not to overkill with Flash content and other bandwidth consuming files like video clips. It has been my experience that once most people learn how to work with Dreamweaver and start creating web pages, they tend to put too much on one page, which makes their site load very slowly and appear cluttered looking in terms of visual appeal, which serves to annoy and frustrate their visitors. Always keep in mind that not everyone has a fast laptop or desktop that can easily download everything on your page within four or five seconds. If you try to keep your Flash content and media files to a moderate amount, more people will enjoy their time spent visiting your site!
Also, whenever possible, always use an FTP client to upload your images and HTML files. FTP is a real time saver and you can easily compare file content to ensure that it matches. A very good (and free) FTP client is
Core FTP LE.
Have fun creating your site!