Well, there are Gordon West's Technician book and the ARRL's book "Now You're Talking".
The exam is a fairly short (35 question) multiple choice test. Some memorization is required - allowed frequencies, etc. Very simple algebra is also required. Ohm's Law - E = I · R - is about the extent of the math. An online exam practice page, using the actual questions, is at AA9PW.com.
With the Technician license, you can use all amateur frequences above 30 MHz. These VHF, UHF, and microwave bands will support primarily local communication, but with occasional continent-wide band openings and with amateur satellites you're not limited to just 10 or 20 miles either.
There are a whole host of radios appropriate for the new Technician. Big ham radio suppliers are Amateur Electronic Supply, Ham Radio Outlet, and Universal Radio. I've had good experiences dealing with all three.
Even before you get your license, I suggest finding a local ham radio club and going to a meeting if you can. Many clubs put on classes for the Tech license as well as the Morse code. The ARRL has a Club locator based on ZIP code.
CG, thanks loads for all of the information. I think I have plenty of homework/research to start now.