I'm looking for good DDR3 memory, so what should I try and go for? I'm thinking 1600 would be nice, but I don't know much about memory.. Is it even worth it? And should I be focusing on the latency also?
Ok speed is required if you are overclocking, for overclocking 1600MHz is recommended other wise your RAM could limit your overclock. So go for 1600 if you plan on overclocking (which you should). If you are sure that you will not be overclocking or are on a strict budget then go for 1333, you will still be able to OC a bit.
Latency is important for performance but don't spend too much for lower latencies, stick to your budget but for example if different RAM is the same price with lower latencies then go for that one.
Yes they are good but obviously lower timings are better but that costs more. All you need to do when looking for RAM is to find a set, which cost an amount you are willing to spend, with the lowest latency possible.