As per suggestion, now a topic of its own:
I'm about to open a Roth IRA with Vanguard, as per advice on the other thread. It looks like I have an option to choose between Vanguard mutual funds and stocks, bonds, and non-vanguard funds. Anyone want to give me a rundown on the differences, or a recommendation? What other choices can I expect to have to make for this account?
The biggest question to me is how are you planning to invest. If you plan on investing smaller amounts on a regular basis than funds are probably your best bet. Anything you have to pay for should only be done when you have large enough amounts to invest that it mitigates the transaction cost. Also, while I love Vanguard as a fund company, they are, IMO too expensive as a brokerage so I wouldn't buy stocks, individual bonds, or non-vanguard funds through them.
For the VAST majority of people, funds are the way to go. They're easy, inexpensive and usually outperform manual stock pickers with much less risk.