Check out the Google Analytics Brown Bag....
If you are currently using Google Analytics, or thinking about implementing it, you'll find it worth your time to give a listen to the recorded August 6, 2009 NSDL Brown Bag session: Google Analytics: Making Metrics Make Sense, presented by LunaMetrics LLC analyst Jonathan Weber. LunaMetrics is a Google Analytics-authorized consulting firm based in Pittsburgh. Jonathan does a great job of explaining how GA works, how traffic can be handled and analyzed, and delving into some more complex issues of site search analysis, measuring outbound link exits, using filters and advanced segmentation and coding that permits roll-up reporting and breakdown of multiple sites and sets of code.
A frequent obsesrvation coming from participants focused on how much more is possible with GA that they did not previously know.So check it out and bring some of your questions and observations here!