JKSeidel:I don't advise using Capture NX (supplied by Nikon). ACR is built in to CS3 and does a much better (and faster) job. Capture NX has come a long way, but it still doesn't compare favorably to using ACR and passing the file directly into CS3. RAW shooting has a definite learning curve. You might want to look at Bruce Fraser's book 'Real World Camera RAW with Adobe Photoshop CS2'. An excellent resource for those new to RAW post-processing.
Tom, you might also look into Adobe's Lightroom product, which lets you manage libraries of RAW photos with ease. It uses the same ACR processor as Photoshop CS3, and adds on top of it some great organizational capabilities, as well as a very intuitive workflow for RAW. Using Lightroom, I am able to effectively cull down a shoot of 1000+ pictures to the ones I want to keep, and have all of those be rated, keyworded and organized within an hour or so...
JKSeidel: As far as archiving goes, there are as many strategies as there are photographers. Everyone has their own preferred method that they are comfortable with. I burn a copy of my RAW files to CD/DVD as soon as I download them from the camera.
I also burn the entire shoot's worth of RAW files to DVD as the second step in my workflow (the first being to get them onto the computer). Lightroom makes this part easy, too, by giving me the option of saving all of the files imported for a shoot into a secondary location, which I point at a DVD burn folder.
Then, after I've culled the shots down to the ones I want to keep, and done the adjustments to those, I export the final set out to either PSD or TIFF and burn that set to DVD as well.