HC110 is an excellent developer for starting out with sheet film. Most people use dilution B (described on the bottle), but I find that dilution H is a bit more forgiving. To make dilution H, first mix dilution B, and then add water to double the volume. To compensate for the more dilute developer, double the development time. HC110 tends to be a fast working developer, so having the longer time is certainly convenient.
Others have noted that using an ordinary GraLab Model 300 timer is perfectly adequate. You have to work in total darkness, but it is still possible to see the hands glowing in the dark.
The best advice is to either follow Kodak's published instructions for your initial development time, or resort to a reference such as the Massive Film Development Chart. You will find that over time your development time will change from that starting point to adapt to your processing technique.
If you aren't going to be processing film frequently, then shuffle development in an open tray is fine. I vote for a presoak, but that's not something that everyone agrees on. Put the film into the tray emulsion side down, one sheet at a time. Then carefully lift the top sheet off the stack, tilt the entire stack, rotating against one edge that remains in place in the developer, and place the sheet emulsion side down at the bottom of the tray. Rather than forcing the sheet against the bottom of the tray, gently float it on the developer solution, and then let the rest of the stack fall down against that sheet. Repeat this process continuously for the duration of your development time.
The principle disadvantage of shuffle development is that it is very easy to scratch the film, so if you find that you want to process film on a regular basis, you may want to explore one of the several alternatives to shuffle development. BTZS tubes, Unicolor print drums, and Jobo processors are often recommended. I personally prefer a slosher. All are fine - the choice comes down to a combination of convenience and how much you want to pay for the equipment.