1- Am i wasting my time buying an asic miner? i dont plan on mining bitcoin as i want to target altcoins and convert to btc. The reason i ask if its a waste is if I buy 1-2 200gh/s units for around $4000, when BFL finally ships the 600gh and the th/s units come out, wont these units drop drastically in price?
Apparently, there is an ASIC miner coming out for script coins, but I don't know much about it. If you are planing to mine SHA-256 coins, then I think BTC is actually the most profitable. 1 GH/s is worth less that 0.02 BTC right now, and the value is dropping rapidly. It will be worth less than 0.01 BTC in a month or two. I don't expect the price of mining equipment to drop quickly enough because too many people are willing to overpay for it.
2- In regards to above, if i wait two months for these units to possibly ship I probably wont get one anyway. So is the waiting game worse than buying now?
The amount of BTC that 1 GH/s can mine is dropping quickly. You need to factor that into your profitability calculation.
3- Can all altcoins be mined solo? I dont really like the pool concept and would rather mine solo. Is this the wrong idea?
Altcoins can be mined solo, but you won't get consistent income.
4- How do I exchange my altcoins for USD or BTC?
BTC-e, Cryptsy, and Bter are popular exchanges. Check cryptocoincharts.info for a list of alt coins and where they can be traded.
5- Can someone post a link or something how to secure your coins? I assume that each altcoin i mine is going to need its own wallet. Does that mean I will need multiple usb drives to backup each wallet?
Yes. Each coin has its own wallet. You need to encrypt and back up each one.
6- Where is there an accurate calculator that can show if im running two 200gh units both at 900w each, will it be profitable to even turn these things on?
mining.thegenesisblock.com is a great calculator. Make sure to enter the proper values. Don't assume the default values are correct.