I think the biggest n00b mistake has already been mentioned -- you need to get to the venue earlier than you think you do. Last year was my first, and I expected to be able to slide right into the Press Conference by showing up 10 minutes beforehand. So I learned that lesson pretty quick. Unless it's morning or early afternoon, you will not be able to venue-hop, so choose your blocks of shows wisely.
The other confusing thing likely won't be an issue this year. Last year, a sign appeared on the door on Sunday saying that all 3 of that evening's shows were "sold out". My friends and I had no idea that there were separate tickets even available for it -- we just assumed it was like the rest of the shows. Kind of a disappointing end to the weekend, which could have been prevented if better info had been on the site. But again, they're changing things this year.
Also, don't try to prove anything to yourself by staying X number of hours in a row or pulling an all-nighter just to say you did. You want to be able to enjoy what you're watching.
Bring some snacks. Marathon is the only time they allow food in the theatre. If you get hungry at a busy time, you don't want to leave and give up your spot in the theatre.
PBR was jacked up to $3 last year. Woes! And the bar isn't always open when you want it to be, so don't plan on a liquid breakfast.
Confirm plans with your friends ahead of time -- texting during shows is obnoxious and won't work half the time at ucbt anyway. And re: friends, be prepared to set them free if they're getting restless.
If you're from out of town, stay as close by as you possibly can.
Theatre gets stupid hot at night (packed with bodies for several hours will do that). Dress accordingly. Wear deodorant if you're sitting next to me. Thanks.