I'm looking for two things:

1. I'm looking to draw my characters in photoshop (all digital, with tablet), and bring them into Comic Life 2. How should I set up my initial document i.e. resolution (I'm assuming it's 72 DPI). I've heard about resizing (drawing at 400%, and reducing it back to the size you want it). I'm still confused about how to set this up.

2. Can anyone recommend a site, book, youtube video, that has the newbie in mind vis-a-vis a step by baby-step process of using Photoshop (or Elements) to draw a web comic.

Thanks folks.

I think I can answer both of your questions:
Starting with the first, if you're ever thinking about print for your comics in the future, you should always start working in a file with a resolution of 300 dpi or more, then resize for the web. This makes it so you don't have to redraw pages because of low resolution. It's easier to downsize a comic for web than it is to increase it for print, since there's no surefire to add pixels to an image. 
As for the second part, I have book called The DC Comics Guide to Digitally Drawing Comics by Freddie Williams II that is a great resource for digital comic artists. It's not a complete step by step, but it offers some guides on organizing your workspace and setting up your files for comic production. I suggest getting it and adapting some of the guidelines to your own work.
Hope that helps