A few questions

I just got my Arduino BT, and tried to hook it up to the transformator... i tested the voltage with a multimeter first and it said exactly 5,07V. The LED didnt light up... the website says 5,5V is the limit,but it didnt work... then i hooked it ut to two 1,5V batteries (around 3V together) and it worked... Why doesnt it work at 5V?

i wanna hook up a serial lcd on the arduino, and at the same time interface my comtuter over bluetooth... is that even possible, considering, that the pins 0 and 1 are actually connected to the bluetooth module... could this be done? or maybe solved with I2C? help me out pls

Not sure about your power issues, mine works fine with a regulator and 5.03V.

For the LCD you can use the software serial library, so long as you don't need the serial.available function, there isn't one in SS which causes problems if you need the device to do something to prompt your software to perform a function outside a loop.

So if you search for software serial here (use the main page search box the forum search is a bit quirky), you'll find plenty of info.