I just completed it a few days ago. Basically, my advise to you is to read ahead before doing, so you know what to expect. Everything is pretty much laid out and explained very thoroughly.
One thing I would like to add is, make sure you use 'dev' as one of the fs-options when you put the mounted LFS in the fstab file. If you don't, when you create the /dev/ devices, you'll get a bunch of '/dev/null: permission denied' errors.
Also, make sure before you start working in /mnt/lfs (or wherever), its actually mounted, and not the host file system (oops, lol).