Dual boot is pretty easy to set up these days. I haven't used it in a hobby enviroment in quite some time. If your computer supports hardware virtualization, then a VM is a great option
As for distro: get a good book, and use whatever distro comes with the book. Some of the Linux books you can find in the computer section of, say, Borders or B&N are pretty good.
Each distro has ups and downs.
I hear that Ubuntu is pretty n00b friendly