Start here for info on the C&R
http://northeastshooters.com/viewtopic.php?t=125
Bascically, it's a Federal Firearms license for Curios and Relics designated as a 03 FFL. It will allow you to purchase firearms which are 50 years or older or those firearms classified as a Curio and Relic by the BATFE. You can purchase out of state (mail order) and have it delivered to your door without having to pay an 01 FFL for a transfer. Which means you can buy direct from Interordnance, SOG, Allan's Armory, Empire Arms to name a few. Plus, many dealers such as MidwayUSA will give you a dealer discount if you have the C&R.
Go read and and when you're ready, ask lots of questions. We'll all help you.