HKocher,
You are a wise man to ask first. AdAware is great but there are a few things you need to know. First is to ALWAYS make a backup copy of whatever it finds BEFORE you make any changes.
I strongly reccomend that you thoroughly go through their readme file before you start cutting out stuff.
There are a couple of critical files that some of the spyware programs MAY modify. One is the WINSOCK32.dll file. If you delete this, you are screwed iunless you have a backup made.
As a general rule you can safely delete all cookies. Then you want to look for the spyware itself. Stuff like Webhancer, Gator, Savenow and others will be found. Follow the AdAware instructions for removing those components.
Another way to find out what's running on your machine is to go to Start>Run>msconfig, then click on the Starup tab. It will give you a list of everything that opens and runs when you load Windows.
Most of the spyware will slow you down and clog your system with popup ads. Webahncer is by far the worst, as it is a program, not a cookie, that actively sends out information on what you are looking at, where and for how long. I don't go anywhere I shouldn't but it is still no one's business what I am doing while online. I expect you will feel the same.
Another simply utility I run is AdSubtract. Get it off CNET or their website [url]www.adsubtract.com[/url] It strips out cookies and banner ads while you surf and makes your pages come down much faster, plus no annoying ads to click through. Even easier to use than AdAware once your machine is clean, and it's free.
Hope this helps get you started. Lot's of people don't know about this spyware crap and how it messes with you.
PS: I'd be interested in hearing what you found on your machine. There is new stuff out all the time.