Like Blackberry the development path is well documented.
Install SDK (latest is Revision 5)
Run the SDK and AVD Manager. AVD stands for Android Virtual Device (equivalent to the Blackberry simulator). The manager allows you to manage your installed packages and created virtual devices.
Add platform and samples (latest is 2.1) using manager from above.
Install Eclipse (if you don't already have that)
Install Eclipse ADT plugin (latest is 0.9.6)
Pay attention to the version of Eclipse you have in the above step and when configuring the plugin preferences under Eclipse you have to select the android-sdk-windows folder and not the parent folder android-sdk_r05-windows.
follow the instructions for the hello world app.
You are probably asking yourself 'another hello world app?'. Don't worry I will follow up these posts with more interesting examples in the future and besides every new development configuration must be blessed with a hello world app.