I'm with Onewhohasfun, 40# is a lot easier to learn on, and makes it easier to shoot 55#. I like Rick Welch's DVDs (Accuracy Factory in particular) for instinctive shooting and Masters of the Barebow vol. 3 for learning form. The bale and bridge are great ways of learning, and great for increasing draw weight too.
As for arrows, a full length 400 with a 125 gr tip might work, or you might need to go to a full length 340 with the same. You can also point load, the 340 some. I'd think that the 400's would work well with lighter limbs and a heavier point, and then the heavier limbs with a lighter point, so you don't have to keep buying arrows.