I'm new...here and in triathalons

Just getting started training for triathalons. There are a couple of guys at my gym that train for and compete in the ironman (both qualified for Hawaii). They have been helpful and inspirational.
I am a good swimmer, avearge cyclist and a poor runner.
I spent several years powerlifting and for the last several I have been primarily focused on racquetball and golf. I know, not a good segue into triathalons.
My biggest challenges will be losing weight and muscle. I have retained a large portion of the muscle I gained while weight training, unfortunately.
This web site has been very helpful so far but I was wondering if anyone has any advice on how to completely rework my physique. Any help would be appreciated.

What the heck, here is my master plan:
summer 2005: 2 sprint distance triathalons, 1 olympic distance
summer 2006: 1 sprint, 1 olympic, 1 1/2 ironman
summer 2007: 1 olymip, 1 1/2 ironman, ironman madison, WI

That's it so far. Good luck to everyone.

“The highest reward for a person’s toil is not what they get for it but what they become by it.”
John Ruskin