IPOs can be a very useful way to evaluate the stock market's value. When there is a large volume of IPOs, historically it is a sign that companies are very comfortable with their industry, potential and the stock market.
When I was a beginner with stocks, I really had no idea what an IPO was. When I did figure out what they were, I had no idea where I could research them! But, while reading Jason Zweig's commentary on The Intelligent Investor, he mentioned Jay Ritter's web site as an excellent place to keep up-to-date on the latest IPO happenings.
What is the IPO world like currently? According to this report:
Cramer on BloggingStocks: Not much time left for downside 
Foreclosures fall, but are still higher than a year ago
HP's deal for 3Com: A missile launch at Cisco?
