I have to give credit to you for looking for information before purchasing a rabbit.
I would stick to the brand that they give it wherever you purcahse your rabbit from. However, I use a brand called Kaytee from Pets Supplies Plus. It's around 29 cents on regular price per pound, but it does go on sale quite often for 16 cents a pound. So it is relativly cheap. But whatever brand you do buy, you just have to make sure it's fit for rabbits and has all the nutrients they need.
I personally like water bottles, but it really varies on the rabbit. Both of my buns LOVE water bowls, so they get both a water bottle and a water bowle. My Belle is really good about not knocking it over, but Maggie knocks it over constinently, so there are days when she only has a water bottle. Water bottles are great, but I think that rabbits get more water through water dishes. But that's just my opinion.
Rabbits need a very large supply of hay. To answer your questions in your other posts, I generally scatter hay in vaious plays of Maggie's cage, and in Belle's I have a Hay Rack.
For the bottom of Maggie's cage there's vinly flooring, which is pretty inexpensive, around ten dollars in the US.However for larger breeds it may be too slippery. I would suggest using a mix of both carpet and vinly flooring? As for Belle, her cage actually has bedding in it, but she'll be switching over to a NIC cage in the next few days even though she's only in there at night and has free run of the entire downstairs all day.
I would suggest building a NIC cage. They're VERY cheap, just as much as a regular cage would cost, and WAY bigger. Even if you don't have room for the cage to be very large, it can always be tall. That's what I did with Maggie's cage:
You can see a lot more pictures of similar cages here:
http://rabbitsonline.net/view_topic.php?id=15348&forum_id=21
Also, some rabbits will chew and digest the newspapers and phonebooks, and I don't think it's very safe. I suppose you just have to watch them to see how much they're digesting?
Here's a link toa list of really cool rabbit websites and different places here in the forum with awesome information about toys and whatnot:
http://rabbitsonline.net/view_topic.php?id=12433&forum_id=17
I completely agree with TK, defintally littertrain your bun.
As for the color, it doesn't really affect their personalities, but I would suggest looking in to possibly adopting a rabbit from an animal shelter instead of buying one.