Hiya Eachann,
Those are excellent newbie questions that I'll be sure to add to our stickied guide. Thanks for posting :)
How does one know where one can mine a particular mineral, are there teltale signs?
I personally wish there would be, and though I haven't asked, it may be a possibility in the future. For now mines exist in certain locations only, and you can learn further details on those locations in-game by asking other players. The Magic Shop is a very popular mining spot, so other miners there may be able to give you better directions than random passerbys.
I found the magic shop and saw the glyphs for sale and was wondering if certain glyphs work with certain "ways of magic" or if they all have combinations that work in each "way" ?
Along with Helm's reply, you can actually quickly and easily find out which Way glyphs are grouped in by examining your PlaneShift files :)

I will list them as well:
Azure - Air
Blue - Cold
Brown - Armor, Rock, Summon
Crystal - Arrow, Energy
Dark - Darkness, Weakness
Red - Fire, Hand, Lightning, Meteor, Might
Thanks Vmann :)
Is there a limit to how many progression points you can get?
Not at all. You can train any skill and any stat to its max, regardless of what else you train.
And on that note, how does inspecting a monster determine their strength relative to mine? I've found that so far things that have the same strength as me actually hurt me fast, but I don't have much trouble fighting things that appear to be weaker than me.
The more Intelligence you have, the better you will be at determining the real strength of your opponent. You start to understand someone's strength level once your Intelligence is over 50, and your perception extends even further once it is over 100. Although something may be of the same strength as you, it is your skill that mostly determines how much damage you will do. Thus training your weapon or melee skills will make the fight easier.
At what point am I able to progress to more difficult creatures?
When you take on a more difficult creature without dying, I guess :) There is no guideline in this regard, but if you can survive a fight with several of the weaker creatures attacking you at once, there's a good chance that you can move on to something else.