Lobster Rolls with Trepidation.

So tomorrow in a spate of celebratory awesomeness, I am making lobster rolls with a pal/a GUY. This is going to be fun, and also, a bit daunting, as
1. Lobster is expensive (but really, slathering anything in butter/mayo and old bay, how can I screw that up?)
2. I have never cooked a lobster.

So. In my head it makes sense that I should be able to go to a grocery store, say, Whole Foods, or Fairway and grab like, a baggie of frozen lobster meat. After a round of calls I have determined with my lazer-like skills of phone research that Fairway doesn't stock such a 'baggie of frozen lobster meat' and Whole Foods doesn't do lobster, at all.
I am going to be in Soho for lunch, and am wondering if maybe the Hong Kong Mart on Hester would have Lobster Tails, or this mythical baggie of meats? Can I get a live lobster home in my backpack on my bike? Is that a bad idea? (it sounds hilarious, so probably a bad idea) Throw in the towel and look for frozen tail?
Western Beef has frozen Lobster tail on sale this week for $17 a pound, which is an insane- good deal, as Fairway sells theirs for $26.50.

So really, this thread has two objectives.
Do you have tips for making awesome lobster rolls at home? Impressively good ones?
Also are you in NYC/Brooklyn? Where do I get ok/decent lobster from? Something tells my my local (Bushwick) fish market might not come through.
Hanburger bun or Hotdog bun?
Chinatown fishmarket lobster - yea or nay?
Should I just throw in the towel now and try to get a table at Mermaid Inn?

*Oh how I wish there were email replies for this, as I am not going to be home tomorrow morning, and am probably going to have to sprint through Hong Kong Mart just to check before heading back to Brooklyn anyway.

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