A space shuttle launch is an extraordinary experience. Witnessing a spaceship breaking Earth's surly bonds is something to remember for the rest of your life.
There aren't many shuttle flights left in the program, and once the shuttle is retired, it will be several years until the Orion ships start flying to the Space Station, and even longer until Orion heads to the moon. So jump at the opportunity when it presents itself.
I think the most important advice is NOT to try to photograph the launch. Just soak it in with your eyes. You can get far better photos and videos from the NASA website, NASA-TV and other sources.
Also, bring sunscreen and mosquito repellent.
Be prepared for the very real possibility of a delay. Some launches go on schedule, but delays are not uncommon. With launches to the International Space Station, if there's a delay, the launch attempt will generally be rescheduled to about the same time on the following day. (The only non-ISS launch remaining on the manifest is STS-125, the final Hubble servicing mission, tentatively set for next August.) If possible, book yourself (and your hotel) for several consecutive days. It's always a bit of a gamble, but in my opinion, absolutely worth it.
If there's a delay, it's a perfect opportunity to take in the Kennedy Space Center VIsitors' Center, as well as the Astronaut Hall of Fame. Don't miss the Saturn V Center. I don't know if they still have them, but check to see if they offer the bus tour of the historic Cape Canaveral sites. And, of course, there's always Walt Disney World.
Launch viewing tickets are sold at
http://www.ksctickets.com/ltt.html
or call 321 449 4400
Order as early as you possibly can. Here's more advice on watching a shuttle launch:
http://www.launchphotography.com/Shuttle_Launch_Viewing.html
http://www.nasa.gov/centers/kennedy/about/view/view_shuttle.html
Good luck!
-Mike