Re: Before I install 12.2 ... anything I should know about grubs and boots?
There will be an Installation HOW-TO file on your DVD. You may also find helpful information in this thread on LQo.
Your partitioning layout seems OK (this aspect is always somewhat subjective). Personally I'd do things slightly different. I typically place my root partition first, mainly for consistency across all of my computers (if a rescue disk/CD is needed, I know where to find /).
8G is a good size for your root directory.
Your swap partition is quite large, but if you don't mind losing the disk space it shouldn't cause any problems -- and might be useful if you intend to use 'suspend to disk'. A large swap might also be useful if you intend to mount /tmp on a tmpfs (tmpfs is like an on-demand RAM disk). If you aren't doing either of these things, you might consider reducing your swap to about 512Mb or maybe 1G.
Depending on the size of your harddrive, you might want to take some of the space from /home and create a fourth partition of about 4-8Gb. This makes it very simple to install a different distro (or a different version of SW) later on. It also provides some flexibility if you later decide to do anything with LFS or software RAID.
I would recommend sticking with LILO initially, unless you have a particular reason for wanting GRUB. GRUB will probably work just fine, but you will need to take some extra steps to install it; this is not handled automatically by the 'setup' program.
"We visited sixty-six islands and landed eighty-one times, wading, swimming (to shore). Most of the people were friendly and delightful; only two arrows shot at us, and only one went near -- So much for savages!" - J.C. Patterson