Ok... so the good news is, my new geetar is supposed to come Tuesday! Woo Hoo! I'm crazy stoked!

Now for the part I need help with...

I have never set up a new guitar, so I'm asking for advice. All of my past guitars I bought second hand, so they were already pretty much dialed in. I only needed to make minor adjustments to the action or stuff like that.

Here's my plan (in order). Tell me if I'm wrong.

1) Tune da strings ( no I don't need help w/ this)
2) Asses / adjust the truss rod
3) Raise / lower the action
4) Make sure the guitar has proper intonation

What else do I need to do to make sure that I am properly set up?

Thanks for any pointers / help
Not essential but make sure neck is properly hydrated. And maby polish the finish and shine up the hardware.

If needed adjust pickup height.
Schecter c1+
Peavey Raptor exp

Vox ad30vt
i'd rather give a guy 40 bucks to set up my guitar. i think yes you're right.
Jackson RR5 ivory w/ EMG 81/85
Jackson DX6 w/ SD Distortion & Dimarzio Super Distortion
Fender Starcaster Sunburst
Mesa/Boogie DC-3
Johnson JT50 Mirage
Ibanez TS-9
Morley Bad Horsie 2
Boss CE-5

ISP Decimator
Boss DD-6
Korg Pitchblack

What are some things that I need to be careful of so I don't screw up my new baby?
Just make sure if you think the truss rod needs adjusting do it in small incriments slowly (like, a 1/4 turn and leave it for a day)

And obviously, like, don't pretend your Pete Townsend and go mental and smash it ;P Guitars are pretty sturdy, as long as you don't proper abuse it it'll hold up fine mate.
Let me tell you about heartache and the loss of god
Wandering, wandering in hopeless night
Out here in the perimeter there are no stars

Out here we is stoned
Quote by apak
i'd rather give a guy 40 bucks to set up my guitar. i think yes you're right.

You'd rather give someone 40 bucks every time you want it set up instead of putting a tiny bit of effort into learning how to set it up yourself?

You're wasting a lot of money. If I gave someone 40 bucks every time I wanted my guitar set up I probably would be down a few thousand bucks