Hey Scotty,
I do a fair number of laminate floors every year and have a few thoughts on them. First, they are a floating installation. This means that it is not anchored down in any form. It stays in place by gravity and it's total weight. You have to leave a small gap around the edge so that it doesn't buckle or bind the edges of the boards that are snapped together. I don't remember what that gap is supposed to be, but it's not very much. A quarter inch is plenty. If you leave the baseboards in place, then you need quarter round to cover that gap. I prefer to take off the baseboards and cover up that gap when I put them back on. I do this with tile too.
For brands and price, stick with the name brands. If you heard of them, or if they make other flooring products, you should be fine. Ignore the warrentee's. They will honor them, but usually it's just a replacement piece of flooring. If and when they send it to you, you will still have to replace it yourself. If you never heard of it, if it's Chinese or something weird, avoid it. Sams Club has some that they sell allot of for about a buck a square foot. If you look at it closely, you can see that it's falling apart in the package. Twice I've seen people loading it up in the parking lot to return it. One time I asked the guy about it, and he wasn't happy. He said that it was falling apart on the floor after install, but before anybody had even walked on it.
As for which is better, a good laminate is going to be harder and more durable then a real wood. You can get a floating engineered wood floor with a thin veneer on top for the finish, but it's generally too thin to refinish if you ever had to.
Also be careful of bamboo. It's supposedly the "green" alternative to flooring because it's a grass and grows fast. Unfortunately, it's soft and wears out fast too. They push it on TV all the time, but I don't know anybody who does floors who recommends it. Not even the stores who sell it will recommend it.
You have to have a padding under a floating floor. It moves a very small amount every time you walk on it, so that movement must be absorbed by the padding. There are three basic types of padding to choose from. The cheapest is an open cell type of foam. It's usually white or clear in color. Over time, the cells break down and you end up with just a flat piece of plastic that doesn't do anything. Squeaks and buckling may occur in high traffic areas with this type of padding. I never use this and advice strongly against this type of padding.
Next is a more solid foam type padding. This is pretty good. I lasts a long time and for most applications, it is all that you need. I use this the most often.
The best is a felt like product. It's more fabric like and sort of reminds me of some floor mats. This is for commercial applications, or areas with allot of traffic. If the price is similar, but this type. I've used it a few times and like it, but don't really notice the difference between it and the solid foam type padding.
I start on the wall opposite of the closet. Starting from the left corner and work your way across to the right. The next row should be one third, or two thirds shorter then the first one. Then the third row is another third difference inlength.
I use a 12 inch miter saw to cut them. Get a good blade and cut from the top down. The 12 inch blade is just a tiny bit too small, but so close that it works.
You will also need the end of one of the pieces to use when tapping them together.
If you can, measure the width of the room and figure out who much you will have to cut the last row. If it's going to be an inch or two wide, then you might want to rip the first row to even it out. It's not so much to hide a seam, but to make it a little stronger . Those thin strips like to curl up on you, or not lay flat.
Before you decide on what you want, buy a bunch of samples and put them in the room. Most people who do this, change their minds on what they want. Usually they have an idea based on another place that they saw, but in their house, it's not as nice looking as it was in their memory. I tell clients to look at the samples for at least a week. Sometimes it instant and you know right of what works and will look the best, but sometimes you are just not sure. I do this with tile all the time. The last one was fun because they had already bought the tile before hiring me. It was really ugly tile, but they thought it was nice. I went to Home Depot and bought ten tiles that might have worked with two that I thought were really nice. They had the tile a week before even admitting they were unsure of what they wanted. It was about a month until they changed their minds and bought a different tile.
Eddie