AFAIK, it's SOP. Usually unless the prof is a really swell person or senior enough to not want/need the pub, it's almost an automatic assumption that his/her name will be front and first on any publication his/her students generate. I wouldn't suggest raising this issue... although, what I usually do is write the paper, and just as I'm about to format it for final revision, ask my prof "So how should the authorship order go for this one?", just to let my prof know that I'm paying attention and am interested in the matter.
And to answer your very first question, authorship order matters a LOT, unless you put the authors in alphabetical order with a notation "All authors contributed equally" or something to that effect. First author is always given the most credit, and anybody from third author on is generally considered to have provided "assistance" or "grunt work". Mind you, there are exceptions... when you see four authors listed and all of them are big names, well...
From what I gather talking to some profs, unless your conference/journal submission is to an A-list, e.g. Academy of Management Annual Meeting, Administrative Science Quarterly, etc..., then your pub experience will be filed under "Nice, he knows what he's doing" instead of "The next Richard Nisbett!"
EDIT: Clarification. Mind you, during applications having a "Nice, he knows what he's doing" attached to your application is enough to give you that extra leg up. On the flipside, being "The next Richard Nisbett!" won't help if all your other records were abysmal.