Fitzm-
Regarding your "What is the proper amount of CF memory?" IMHO-Depends on the camera, but for average at home use, any amount is OK (evem 8mb)depending on how often you want to upload and purge your CF memory card. I don't take many high resolution pics. High resoultions take forever to download for friends, family, or Fleabay ads. I usually use the lowest resoultion setting and might bump up a notch on my soon to be decommisioned Kodak 240.
Now with my new (if PhotoAlley delivers) Coolpix 950 with a 2.1 megapixel vs the 1.3 MP Kodak, the 8mb won't go very far and you may find upload and purge that often a hassle. Also if you take a trip you might find that you are severly lacking with 8mb.
The Coolpix had four resolutions selections. Here's how much an 8mb will hold: Basic-32 Normal-16 Fine-8 High-1 So a 48Mb will hold 192,96,48,16 respectively. So I bought a 16mb and a 48mb from C4Sure (for like $56 after rebates and shipping with USB readers) the day after I purchased the Coolpix. I think that will be just about right with an 8,16,48mb modules for me if I take a trip or vacation. And on a long trip, I might want to have a higher resolution set on the Coolpix for good reprints. With an 8,16,and 48MB module I could take 144 pictures in "Normal" mode or 72 in "Fine" mode which is OK if I delete bad pics as I go along. Ideally I'd love to have 2 64mb but I won't buy until I find a deal. I keep wondering if the current RAM memory will have an effect on CF prices.
Also, buy the conditioner/charger with four 1600mnh rechargeable batteries from Thomas Distributing. Get a second set of four batteries to give yourself a backup set of batteries. These may not be enough from what I've read about the peower consumption of the Coolpix 950 in the reviews.