I\'d like to send/receive data over a USB port to a device (from my vista pc). Is there a free/cheap library out there that can do this, and how involved would this project
This article in Code project may be a good start for you. At first you need to build your device. You can either use a micro-controller with a USB port or you can use a serial-to-USB chipset (like the already suggested FTDI).
You should avoid writing your own USB library-driver. The article in the CodeProject uses the HDI driver, which is already present in your device. It uses a PIC micro-controller, but my personal favourite is AVR. With AVR you have the following options: