Fellow armchair space cadets, I strongly suggest Mary Roach's
Packing for Mars: The Curious Science of Life in the Void. The whole book is great, but the entire chapter dedicated to excreting in space is both tremendously funny and informative.
Something that I can't believe had never occurred to me: Your bladder and intestines don't signal that you're ready to go the same way they do on earth. Urine coats the inside of the bladder in microgravity, and there's no heavy feeling that you're ready to go.