I'd never done hinges before, and decided to go with surface-mounted hinges because I was pretty sure I could get those right. I wanted to leave the wood its natural color, both because I thought it would look good in this room, and because I think it makes the hardware pop. Accordingly, I used iron-on edge banding on the plywood so the edges don't show.
I used a simple, homemade finish of mineral oil and beeswax, and the hardware is just from Home Depot. I'm not positive how much time it took -- I did it in bits and pieces over several weeks. In any case, I'm really happy with how it turned out! The new owner of the bed likes it immensely, too.