Congrats on your new camera! I hope you enjoy it!
I am a professional 35mm photographer and take my stuff to many different labs for processing based on the type of film and the nature of the project. Professional labs are amazing but aren't necessary for non-paid projects and are particularly not useful if you are just learning how to take photos. In the beginning you're going to want to shoot A LOT and you won't be making money off the images so why not find a good cheap lab until you work up to the higher quality and expense? I mean, I spend as much as $30 per roll of film for processing and scanning, then I can spend several hundred on 10 or so good prints. Who can afford to do that for unpaid work?
I take the rest of my work, the stuff where I'm just walking around, taking fun photos as I ago about my life, to Target. They charge $0.95 to process and $5.99 to scan to CD. I don't get prints because prints at minilabs are usually garbage but cost twice as much as scans and I don't want prints of every single photo on a roll--only the ones I care about, which can sometymes be only a few shots per 36 exposure roll.
Here's a shot I had processed and scanned at Target, looks great to me!
http://www.flickr.com/photos/johnnymartyr/5756609264/in/set-72157623882514305
Here are the limitation to drugstore/consumer grade labs though:
--They only process C41 film. No E6 or B&W. Read a basic 35mm Photography manual to learn the differences in these types of film. You should really read a basic 35mm guide if you want to understand what you are doing and take better photos. The thing with C41, though, is that as long as the machine is maintained properly, there is absolute ZERO ways to ruin the processing. The remaining problems can only come from bad printing/scanning/film handling
--They only give you low resolution scans which are suitable for posting online but not really for making prints from or editing extensively (although if you shoot Lomo you probably won't want to edit extensively!)
--The employees are not professionals. So you get quality variation from lab to lab and employee to employee. So try all your local labs. Even if you have to just burn "test rolls" where you just take stupid photos of nothing, do that and drop the film off at all the local labs as you have the tyme. Decide which lab has the most friendly, helpful staff and produces the best results. Make sure there are very few, if any scratches on the negatives and that the scans are clean and free of weird marks and dust. Then just keep going to that lab. You may even befriend a particular employee and you can request that only that person does your work. Dealing with labs is all about being social.
--Expect scratches on your negatives (which can be scanned out of C41 film and aren't a big deal for non-important work in my opinion) and scanner lines on the files (which are not on the negatives so they can always just be rescanned.) Don't forget, you are getting a discounted service, so don't expect perfection. As long as your stuff USUALLY comes out well and nobody ruins your negatives, it's a good consumer grade lab! Once you get tired of this stuff, and know your camera, you can take your stuff to a semi-pro or pro lab.
Personally, I have never sent my film out because that makes me uncomfortable but there are many you can send to who all have different prices. One popular one is Dwayne's:
http://www.dwaynesphoto.com/
Good luck and email me with any questions at JohnnyMartyr@Hotmail.com