Thank you all for your replies! Some specific comments:
@Garfield - I haven't registered for Ojai yet. It was my cycling friend who chose that one, and I was trusting him to make a good choice for a beginner. He does tend to overestimate my abilities a little and I was worried he would push the pace too fast. Personally I don't have a time goal (other than the course limit).
If you know of a better first 100 near SoCal I would definitely be open to it if it fits in with my schedule (a few half-marathons on the horizon) and isn't crazy hard to get into. Honestly I am not very good at reading elevation charts and deciphering what they mean to me, for running either. I am better at comparisons with things I know (like I was asking my friend "Is it more hilly than _____ local ride?"). A half marathon I did in October was rated as VERY HILLY and when I got there I was baffled. It was a few rollers but nothing extreme. <shrug>
@Machka - I'm not locking the elbow (making damn sure not to!) but I feel if it weren't as stretched out it might be more comfortable. Maybe I need a shorter stem?
As far as training - I plan to ride 2 or more shorter rides during the week (definitely on the trainer). These are now 30 mins but could go up to an hour max due to time constraints. On the weekend I will do a longer ride. With marathon training my long run was 22 miles (26.2 being the marathon distance). I would assume a maximum training ride distance of around 4-5 hours would be enough. I will work up to that, starting with an hour this weekend. I probably will do some longer rides on the trainer. So far I don't get bored, and I like that there is not traffic to contend with. I am a bit afraid of riding in traffic - I don't like it. I would love to do some local group rides but I'm not strong enough YET to hang onto the pack. I don't want to make a fool out of myself.
I read your article and it was helpful! So it seems aerobars are allowed in centuries? I have never used them before (and am a little apprehensive) but I do have a set of clip-ons. I could get used to them prior to the race and having an extra position to be in would be nice, and probably great for my elbow.
@Carbonfiberboy - thanks for the positioning tips for my elbow. I will try that and if no improvement, I'm going to take the bike in (I no longer live near where it was fitted) and see if the bike shop guys have any helpful hints. I have Friel's Triathlete Training Bible - will check out the cycling one. I would prefer NOT to train with numbers and just get some miles under my belt. (Which is what I do for running). I was just worried I'd be better served by doing power training (I don't want to shell out $ for the equipment) or HR training. If it's not that important then forget it! I'll just go on intuition.
@ericm - thanks for the book recommendation. If there is a half century that fits in with my schedule anywhere near here for the spring I will gladly sign up. I don't want to travel since I am already traveling for some running races this year. I probably should try to find somewhere offering a basic bike maintenance class in the near future. That would do wonders for my confidence. I don't want to have to rely on others (true for so many aspects of my life, LOL)!
@PatW - I will have no problem keeping a snail's pace during the 100. That's how I finished the Berlin marathon this year. I know my limits. Actually it is probably better my friend is not going - I want to get there on my own power, not be dragged by him (as a triathlete originally, drafting always seems like cheating to me!), and I don't want to feel like I am holding anyone back. I am familiar with the concept of training only up to a certain distance. 70 sounds great!
Thanks again everyone,
~Laikabear~