Jumping in as a fellow beginner, it's amusing in hindsight to see the various substrate mixes I tried over the past 3 months as my knowledge of soil mechanics increased slowly but surely, while keeping an eye on budget. I've got the bug this past summer and have a lot of trees (not all necessarily with an eye for bonsai) growing out, so can't afford to sink everything immediately into 1/3 lava, pumice, akadama.
More recently, I've settled on the mix(es) described by Brent Walston of EvergreenGardenWorks:
http://www.evergreengardenworks.com/soils.htm 8:8:1 Pine Bark, Perlite/Pumice, Peat. I got 10 bareroot saplings a few weeks ago that are still dormant in it, but have been pleased with the way it dries. Yesterday, I put 48 seedlings into Rootmakers using a more dense mix of 4:4:1, but can't tell yet how well that works. Would have preferred to use pumice, but is currently backordered from my store's distributor so settled for the perlite. For the pine bark, a local landscaping supply mixes their own potting soil for cheap and I use the sifted pieces > 1/8" -- haven't found a good source for raw pine bark of the right size but hopefully will in the next month!