If you are new to Arduino, you could better buy an Arduino Uno. Once you know everything about Arduino, you could try to make one yourself.
Perhaps this is usefull:
The Arduino IDE (the software you can download, version 1.0.3 at the moment), takes care of the fuses if you write the bootloader.
If you make something compatible with ATmega 8 NG, you should use an ATmega8 at 16MHz.
How can you run a ATmega8L at 16MHz ? It is a 8MHz chip.