This page explains the basic cycle of a view and what processes happen.
While this just says "@todo", here's a basic but handy step-by-step of view's hooks in the order in which they happen during a view's life cycle
(second time I've posted this, not sure if it was lost, failed to post, deleted?)
For additional details on every hook and some sandbox module code for those trudging through views API the Colorado 2011 drupal camp had a presentation and sandbox module that leaves little guesswork to all the _pre _post _build _execute hooks that make up views 3's api.
http://www.slideshare.net/danom/a-gentle-introduction-to-drupals-views-api (slide 18 and 19)
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