Inv Banking 101: The Typical Deal Process

Was wondering if any of you thoroughbred investment bankers could enlighten the rest of us aspiring bankers about the typical deal process from start to finish (for a buy-side and sell-side deal). What are the key points/events we should know about going into a full-time interview for banking, especially with a summer banking internship on our resumes? What is the typical length, approach, strategy? I am aware that some deals, for example, on the sell-side are driven entirely by the buyer and the full process is much shorter than a deal that is otherwise not. A lot of the time, the seller puts together a teaser for potential buyers and then eventually a management presentation in an attempt to get the potential buyer further intrigued and thinking about the business. If initial interest is there, the potential buyer must pitch the acquisition to its board and see if it is in the best interest of the buyer's shareholders (in the case of a public company). Do negotiations about the price and structure of the deal carry forth after a potential buyer is on board and what exactly does this entail? Would love some more insight on the entire process.

Also, a few more questions if someone has the chance to answer:

1. How is the analyst's role different for a buy-side vs. sell-side deal? Are sell-side models mostly built off templates and buy-side models customized for the deal at hand because there is much less interaction with the seller, and thus, less knowledge of the company? I would think it depends on the deal and not necessarily the lack of information?
2. Why is a sell-side process typically easier than a buy-side? Is it because there is more competition from buyers on a sell-side and not as many options on a buy-side? Just heard this a lot and wanted to get a clear explanation.

Hoping this sparks an interesting discussion and further questions by others...