Okay, here's the information about 529s in the states. It's from Clark Howard, a very well known consumer advocate based out of Atlanta. http://www.clarkhoward.com/news/clark-howard/education/clarks-529-guide/nFZS/
529 101, money can only be used for education. can usually change "beneficiary" at anytime, to yourself included. I suggest Utah if you get no state income tax benefit. Can contribute to any state and use the money for any school.
Other options is gov't bonds, or if the child has the proper income, you can contribute to a Roth IRA for them. Which isn't for education, but it gets the money in there just in case and contributions made directly to a Roth IRA can be taken tax and penalty free. My children have/will have all of the above flavors.
"If you only have 1 year to live, move to Penn...as it will seem like an eternity."
Good to see you back, I was starting to miss your incisive commentary!