Gxas said:
For those who have enjoyed reading about my efforts to press onward in this game, I have just beaten the Capra Demon and am now slowly making my way down into the Depths. No idea what to expect, as I've not read any guide or anything on the area. Here goes nothing.
If you see a tip saying "Up" or "Above" or something, be careful. There are blob monsters who chill out on the ceilings, and if they land on you they do a TON of damage (likely instant death for you right now).
When you meet the Basilisks (little lizard dudes with huge googly eyes), keep moving. If you stand in their fog for too long (i.e. more than a second) you will die, and be cursed. Getting cursed is a HUGE pain in the ass in this game. There is a guy named The Pardoner something or other in the belltower where you fought the Gargoyles. Go buy a purging stone or two from him, just in case.
Be sure to talk to the merchant down there. He sells some decent stuff, but he sells much better stuff later on. However, you can only meet him later if you talk to him now.
There is a shortcut between the merchant/entrance to Blighttown and the bonfire in the Depths. Its a little ladder behind a pile of boxes, near the grate where you can see the giant rat.
Gaping Dragon is scary as hell, but he's not that hard to beat. Attack him after he does his charge move, otherwise keep a lot of distance between you and him. In particular, don' get hit by his vomit move. It will wreck your equipment.