"What exactly is 'queer theory?'"
Well, it's not easy to describe because it's a slippery concept, as most theoretical positions are. A very basic working definition could be that queer theory is a method of reading a "text" (literature, history, music, art, culture, politics, whatever) from an antihomophobic, antiheterosexist, or positively queer perspective. It's not necessarily limited to gay men, bisexuals, transgender persons, or lesbians, but can also include heterosexual allies who think critically about sexuality.  Queer theory holds as a central tenet that gender and sexuality are socially constructed, rather than essential qualities, and therefore both fluid and malleable.  One implication of this is that heterosexuality is a social construction, and therefore capable of being deconstructed.

Some of my favorite theorists include Eve Kosofsky Sedgwick, David Halperin, Audre Lorde, Michael Warner, Adrienne Rich, Judith Butler, Michel Foucault, William Tierney, and plenty of others. If you want to know "what is Queer Theory?" I'd strongly recommended looking at Eve Kosofsky Sedgwick's Epistemology of the Closet and going from there. The Lesbian and Gay Studies Reader, Queer Studies : A Gay, Lesbian, Bisexual and Transgender Anthology, and Fear of a Queer Planet are also good resources.  Also, you can check out Queer in the Classroom: An Annotated Bibliography, which primarily deals with queer issues in the English classroom.

I'm a member of a number of queer-related e-mail listservs, including the Queer Studies List, trans-theory, a Queer Sci-Fi/Fantasy list, and a number of both local and national lesbian, gay, bisexual and/or transgendered political and news lists.

I think this one has some academic/scholarly works. I don't really remember. Just follow it, and if it doesn't work or if I'm wrong, let me know... Sexual Orientation: Science, Education, and P...

A resource for finding books and articles on queer theory: Bibliographies.

What's the difference between lesbian-feminism and queer theory? Try this bibliography: lesbian-feminism vs. queer theory.

The following link has got a number of academic/intellectual/scholarly resources for queer theorists, including essays on Judith Butler and Michel Foucault.  It also has book links for upcoming books in the field:   University of Leeds Theory Page.

The following link has an often-updated listing of Universities' and Colleges' lesbian, gay, transgender, and bisexual resources, including Lesbian/Gay/Bisexual minors and certification programs: University Queer Programs - North America.

The following link is to the Center for Lesbian and Gay Studies Home Page.  They're based at the City University of New York, but have produced a number of anthologies of essays in the field of queer studies.