Never buy a trainer (or any home exercise equipment) new. There are too many people who buy them and never use them, then sell them at a huge discount. I got a $200 magnetic trainer for $80 still in the box. Personally, I prefer magnetic or fluid over air/fan because they can exert more resistance and they are quieter (er, less loud).
I highly recommend a trainer setup in front of your TV (with headphones and a long cable, the trainers really are pretty loud) watching high adrenaline movies on Netflix. You'll burn an insane amount of calories watching Crank ;)
As mentioned, use a smooth tire. There are trainer specific tires (because of the heat a trainer generates on the tire, it wears normal tires out quickly - but none of these tires will fit your hybrid anyways, they are usually 700x23). My solution is just to use old tires or the cheapest I can find. Trainer specific anything is a hugely expensive waste because they are targeting the hardcore roadies, the guys who think little of dropping $200 on a bike chain because it is 20 grams lighter than the $15 chain. Instead of a $100 trainer mat, you can use a $20 yoga mat, or a $25 standing work pad from a hardware store. Basically you're goal is to isolate the vibration form the bike to the rest of the house and keep sweat and grease off your floor.
Have fun.