edit: PLAY FALLOUT 1 FIRST
The trait 'gifted' is a must.
Only if you want the game to be very easy.
Each of the stats is basically useful for one thing.
Strength= Carry Weight (min Str for some weapons, but that is easily overcome by increasing your weapon skill)
Perception= Range modifiers (You are more accurate). You can also get a few better descriptions and stuff.
Endurace- Fallout's dump stat. I usually play with an endurance of 3.
Charisma- In FO1 it isn't that important, it helps you get some quests and lie your way out of situations, bluff the stupider baddies and stuff.
Intelligence- Probably most important stat. Dialogue choices and skill points.
Agility- Second most important, controls APs. Keep an even number, as you don't get anything besides a tiny boost to your AC for going above to the odd number
Luck- Not really that important unless you set it very high or very low. It just affects critical hit, like one quest or trigger, and random encounters.
For the traits, they are all useless or disadvantageous except for:
Gifted, which is Fallout's version of cheating or Easy mode.
Finesse- The one truly balanced stat, only use it if you have 6+ luck and go for the critical hit perks.
Fast Shot & One Hander- Good if you have lots of APs, and works well with One Hander so you can shoot multiple times per turn (with a pistol)
Good Natured- This is probably the best one to take, as it is essentially free skill points (you get more than you lose, I mean, usually people only specialize in one or two weapon skills anyways, so most of the points, you won't miss them)
If you have a decent PER and min STR for your gun, you don't need more than 100% in your gun skills for a 80-90% hit rate on non-called shots.
The important skills:
(A Weapon Skill)
Lockpick
Speech
Science
In that order.
Make sure you get a Tool (they're cheap and found in most stores) and up your repair a little bit, it makes the game a bit more fun. I think a Tool adds 30% to your repair skill. Same for lockpicks. If you tag lockpicks when you create a character, you get a free set, so I usually do that.
What else...
The guns are pretty imbalanced. The SMG murders at close range (and counts as one-handed), the .223 rifle and .223 sniper rifle are best at long range (yeah, that makes sense), all the other guns are kinda useless compared to them, especially as AP ammo is worthless, and the 5mm rifle's ammo is bugged. Shotguns are about the same in effectiveness as .223, but they aren't as good against armor. Energy weapons are better than most of the guns and are the most powerful weapons in the game, but you don't get any until pretty far into the game.