Hi, Clay.
From my perspective, I'd say:
1. Yes, you can get out a body shape from one piece of your stock. But with an ample supply, there's no reason to limit yourself to a single board width. You might think about this until after you've done some reading about joining, glueing, grain orientation, seasonal wood movement,etc.
2. Best tool is sort of up to you. Most efficient is probably a bandsaw, but you could even cut the shape with an inexpensive coping saw if it came down to that. Or a scroll saw, a jig saw, a bow saw. or a router with a pattern and a pattern bit. You could actually even do it with a hatchet and a couple of sharp whittling knives. I'm not kidding. But the best tool is the one you can buy or borrow or gain access to, and learn to use safely and properly.
3. I can't advise you on this question, but you'll get some good answers from others.
4. With bridge hardware, once again it depends on you and your overall concept. I think you should consider the guitar you are currently playing versus others you have played and think about your preferences. Then go to various suppliers like Stew Mac or AllParts and read their descriptions of the hardware. Then come back here and search the forum archives using search terms from those "catalog" descriptions. You'll find out what's involved in installing all the various types. Some bridge/tailpiece combinations will be more straightforward and easier to install than others. Some work better on certain body styles than others, but they all get the job done in different ways.
5. The biggest newbie mistake would be jumping in before doing your research. Look at a LOT of plans or develop your own plan. Seeing everything expressed full size on a plan in top, back, profile and section views will help you avoid a lot of mistakes. Even the most experienced, skillful builders here will tell you that they make mistakes, so plan on making them in spite of everything. The mark of a true craftsman is the ability to recover from his mistakes and fix them in a way that appears to be planned and/or invisible.
And this next piece of advice is very, VERY important: Tools can hurt you--sometimes seriously! Learn to use them properly, read all safety precautions until you understand them and then FOLLOW those safety practices. Even a seemingly benign tool like a screwdriver can really mess you up. I'm not kidding. Learn the safe way to use each tool.
With all that in mind, I recommend you find a source of instruction, such as a local woodworking club, a an adult education center with a wood shop, an experienced, willing friend who will teach you, etc. etc.
Good luck with it. It's an obsessive passion with almost everyone here, and everyone was in your shoes at first.
Patrick
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Can't wait to see how they perform. Smells like a dusty barn when you cut it tho. 
