While looking for more information about what's available, I came across SmartMoney's College Savings Superpage which I will have the adults go through with a fine toothed comb (something that I don't need at the moment - I'm still wondering when my hair will come in) to help resolve the best investment for me.
The page lays out the basics for six types of college investment options:
Taxable Investment Account in Parent's Name
529 Qualified Tuition Plan (QTP): College-savings account
529 Qualified Tuition Plan (QTP): Prepaid tuition plan
Coverdell Education Savings Account (ESA)
Custodial Account: UGMA/UTMA
and then answers basic questions for each
Does the Account Grow Tax-Free?
How Much Can I Contribute?
How Can I Allocate the Account?
What Can Withdrawals Be Used For?
Can I Change Beneficiaries?
What Are the Financial-Aid Implications?
Who Are the Best Candidates for This Type of Account?
It seems like a great primer for college savings education written is a straight forward manner. I think it will help me a lot in determining where to put my money.