Well, my puppy has only been to the 1 show and that was 6 months ago so I haven't got the 'buzz' yet but I think the general consensus is that once you have been to a few shows and got to know people, a show becomes a good day out. If you win a rosette, then thats even better but a lot of people really enjoy the social aspect of it. I suppose it's a bit like me going to watch the football every other week even though I know we probably won't win - its a good laugh at the end of the day
Basically, if you get placed in your class 1st, 2nd or 3rd you get a nice bit of card and rosette. Some shows also have trophies that you can win for certain classes. In some shows, you have the opportunity to qualify for Crufts. I guess the 'buzz' is the hope that your dog will get Best In Show, or, if at a championship show, a Challenge Certificate. You need 3 Challenge Certificates given by 3 different judges for the dog to gain the title of Sh Ch (show champion).
You can start by attending ringcraft classes and then entering companion shows (these are the ones that have the fun classes such as waggiest tail etc included in them) or local open shows. The pedigree itself doesn't matter as such but the dog does have to be KC registered. Having lots of Sh Ch in the pedigree does not necessarily mean the dog will be show quality. Basically, the judge will be looking to see which dogs best conform to the breed standard in their opinion and they will be the ones that get placed.
For me, I attended obedience training as well as ringcraft but everyone is different. I prefer doing the obedience as you are pretty much always on the go and I know what I'm doing
I find ringcraft soooo dull but it has to be done in order for the dog and handler to learn.
There are quite a few books on dog showing out now - you might be able to get one from the library if you want to learn about it.