I like the Arizona E-Z Fletch, personally. Its very easy to use, as the name implies, and you can fletch a dozen arrows in less than 20 minutes.

As far as glue goes, I've been using Bohning Fletch Tite Platinum. It doesn't stick well to the bare shaft, but apply it with a wrap, and it adheres amazingly well. If you're gluing to the bare shaft, try Goat Tuff. If you deicde to use Goat Tuff, save yourself about $5 and just buy super glue, they're the exact same thing.