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: http://arduino.cc/en/Main/Standalonehttp://arduino.cc/en/Tutorial/ArduinoToBreadboard
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.