Glad to hear that you're trying a butt--its my all time favorite meat to smoke. I usually cook mine at 240--250 degrees until the stall hits. Then I foil with some apple juice and continue cooking (in the smoker or in the oven) until the IT hits 205*. Then a short rest and the meat will pull beautifully. I haven't tried it yet but tropics brined one of his overnight and said it was THE way to go.
If you decide to foil, you'll lose some texture in the bark, but the butt will finish quicker. If you just leave the butt to cook through the stall, you'll bet more bark, but it will take more time. Just personal choice.
I like hickory for wood, but Miss Linda prefers the milder pecan.
If you decide to try a finishing sauce, I would suggest SoFlaQuer's. You'll find it in the pork sticky. Its a vinegar based sauce and I just add it at the table--some people like it, some don't.
The main thing to remember---Pork Butt is very forgiving, so just sit back and enjoy the smoke.