Any advice on reading datasheets
Read the datasheet carefully. Details matter.
Be Humble: Don't assume there is something wrong with the part right away, assume the problem is in the way you used it.
Frequently, I find that when things aren't working, I've either not read the manual well-enough, or I did something wrong.
Look hard at where pin one is. Make sure you understand if the diagram is a top or bottom view (top is I think most common).
To put this another way, some datasheets give you the dimensions of the part itself, and some datasheets give you the recommended land pattern (aka footprint, solder pads).
If they give you the dimensions of the part, they usually give you a top view and then bottom view. When you're looking at the bottom, imagine you flipped the chip over with your hand.
Terminology There is industry standard terminology that has evolved for electronic components. It is important to understand the definitions.
Absolute Maximum Ratings Understand the limitations of the component.
Specification Conditions Although the terminology is standard the specific test conditions for each specification are not. It is important to account for these differences when (1) determining the proper component and (2) when comparing devices.
Application Notes Most datasheets have a variety of application circuits.
Reference Designs A good reference design will demonstrate the proper application of a component and the proper circuit layout to achieve the specified performance.
Component Package Specifications Review the component packages and the recommended PCB land patterns.
I have placed some additional details at http://wiblocks.luciani.org/FAQ/faq-reading-datasheets.html I will try to add some details about the datasheet specifications that deal with thermal calculations -- thermal resistance, transient thermal response and switching losses. There seems to be quite a few thermal questions (on a variety of sites).