Solder
 

Is the 60/40 solder good to use for assembling electronic stuff, like a megasquirt? I want to use something where the quality of the solder is strong enough to last the vibration it's going to experience in the car.

I figure it should be, just clean the contacts well, use some good flux, and get a good solid amount of solder on the joint.

60/40 has been the standard for quite a while. While there are other combinations keep in mind that the tin(60%) is for strength/coductibilty and the lead (40%) is for flexibilty, as it's more pliable. Be sure to use Rosin core or a Rosin based flux.

As Matt suggests make a good solid, deep seated joint.

I picked up some .032 rosin core solder, a 15 watt iron, heat sink clip, and a tinning and cleaning can. The last time i was in electronics class, they use to supply us with all the standard stuff they had, i never knew there were so many variants of solder, irons, etc.
So anyhow, does this setup seem reasonable?

Just don't breath the vapors - had an uncle breath to much of them and it turned him retarded (no offense to any one with special needs kids - but its true!)