Etiquette
Bong etiquette seems to allow each person one lungful (inhalation) per turn. It is rude to start a breath over, even if due to bad lighting technique (wasted lung space). The exception is when delays are caused by a faulty lighter. The turn-taker is also allowed to finish the chamber of smoke (carbed) on a second breath. If a person doesn't get a good amount of smoke in a hit, they're allowed to smoke first (if going in order) from the new bowl.
The bong *and* lighter should be smoothly passed onto the next stoner. The veteran of stoners will have already extinguished the bowl so that no bud is wasted for the next person.
Etiquette for the host suggests that s/he provide his/her guests with a spittoon (garbage can), water, and munchies (optional, but very generous!). Needless to say, the ambience should be comfortable and inviting. Bud is best enjoyed in company and with entertainment, so bud should be shared with friends.
Bowl packers are subject to a much looser constraints. Since the person packing bowls is in essence doing everyone else a favor, few arguments can be made by the recipients. Bowl packers can be dictators and direct the route of the bong. They can also smoke as much of their own bud as they want, even if they're out of turn or whatever. The kindest bowl packers pack so much bud into a large bowl that the air can barely be sucked through it. They pass the bong around in order and re-pack the bowl liberally. Not everyone has the money to afford this philosophy, but stoners are usually generous people.
Usually the person packing bowls will take the first hit off a new bowl, but not always. When a fresh bowl is passed to someone else, it is a generous gesture towards that stoner.
While stoners can be obnoxious, they are all too often labeled as "bad stoners". This unfarly derisive term means that a stoner acts goofy while stoned. It's very uncool to blame some stoner's goofy behavior on the fact that s/he's stoned because it's too easy to make a stoner self- conscious (and that sucks). It is more polite to allow everyone to enjoy the bud in their own way and not be judgmental of others.
The best attitude to have is to relax and enjoy the company and the surroundings. Bud is finicky that way--every experienced stoner knows that you should be in a good mood when stoning.