The best thing to do is read articles online to become familiar with the PC components, like be able to virtually build your computer in your mind and be able to pick out compatible components on Newegg.com without leaving anything out. Stuff like that. Building it is easy, and if you can't do it from the knowledge you've picked up here or from the websites by the summer, then pick up a book or two about building computers. But participating in the forum and reading the threads is a good way to learn too. Read what veteran members reccomend and why.
The Intel 965 chipset is the new chipset that will be on Intel's new motherboards that will support the new CPU, Conroe, which is turning out to be a great gaming CPU and may even beat some of AMD's offerings! Both of these won't be released until July at the earliest.
Socket AM2 is AMD's new CPU socket (current socket is 939, previous was 754, and before that, socket A). It's going to be the platform in which AMD will now release future CPUs on, so buying a Socket AM2 motherboard basically futureproofs your system for at least 3-4 years, if not more. AM2 will allow AMD CPUs to use DDR2 for the first time, and run more siliently and cooler. Performance boosts will be slight, but the real "gift" is that it's futureproof for AMD's new core CPUs (which no one really knows anything about yet).
I hope that suffices as a basic description, you can google Socket AM2 and Conroe for more information.
I wouldn't worry about gathering components for a build yet, as newer ones will be released and prices will change before the summer arrives, so chill till then and get basica knowledge down.
Hope this helps!