I remodel for a living and deal with wall paper fairly often. Depending on the decade the wall paper was made will depend on how successful you are at getting the glue off. The 70's was a very good decade for glue. No EPA to mess with and as a result, some very good glue was used!!!! Everything built and used in the 80's is crap, and usually pretty easy to clean up. By the 90's it all sort of got worked out and it comes off pretty easily.
Of the different types of glue removing products, I like the one with the shark on it. I think it's made by Zinnsser. The trick is letting it do it's job, but not waiting too long. You want to soak it, then wait for it to work. Then it scrapes of real easy. If you wait too long, it dries up again and the glue holds it onto the sheetrock again. Timing is everything, so work in a small area at a time.
If it's really sticking and nothing is getting it off, I either replace the sheetrock or put another layer over it. This is always more work because in addition to hanging the sheetrock, you also have to tape and bed it. This is my last resort, but sometimes the fastest and cheapest if the wall isn't salvageable.
Either way, you will have to float, feather and sand it to make it look nice. Go with the 80 grit paper from Home Depot. The Gator stuff from Lowes is just pure crap.
I like the premixed joint compound with the blue on the box. It's a lightweight, easy to sand, easy to mix and apply joint compound. The green label box dries so hard it wears you out sanding it. I always buy it by the box. I have a plastic cup in my drywall toolbox that works great for how much water to add to the box. Always add water and mix up your premixed joint compound. You want it like butter. Soft and smooth when you apply it.
I use three trowels. I start out with an 8 inch and work up to the 16 inch. For inside corners I have two trowels, a small and a big one. For outside corners, I prefer the metal corner beads, but will use the plastic from time to time if I think there is a reason for it.
Are you going to texture the walls? If you have never done it before, and you don't have a hopper, the spray cans work great for small areas. I use them all the time for patch jobs. Be sure you get the non odor type if you want to do the wall. It goes pretty quick and you will need quite a few of them, but they are simple and easy to use with great results. For an entire wall, a room or a house, I use my hopper. It's more work, but a lot cheaper with the hopper. You just need to own a hopper, air compressor and hose.
Good luck,
Eddie