It may be an old nugget in the web scale of things, but the Writing Excuses about exposition is a really useful nugget. My one, incredibly silly quibble in the midst of hearing good advice like the three detail rule and reassurances that fantasy readers expect to be tossed into your world headfirst, was hearing an apparant backformation of the topic. Is exposit really a word?
Anyway, I think the most important principle they mentioned is that most readers care about the characters. Only a few want to know about all the dead religions you invented. Especially in the early chapters, your job is to show the characters acting in your crazy little world, and to let on just enough about the background to inform their actions. Then, once you’re sure the reader will be dying to get some explanation, only then can you resort to full infodump mode. That’s what Chapter Two is for.
I’m still bugged by the idea of expositing, though. I’d rather explicate. Explicate!
Writing Every Day 
And so I clicked on your Writing Excuses link. Which leads me to ask, have you read Patrick Rothfuss? If not, you should. His book is great and besides, he looks like a hobbit.
No, I haven’t read Name of the Wind yet, even though I’ve wanted to just on hearing the title. Soon, soon.