For the "underlying assumptions behind the equation" -
The two main assumptions behind the ideal gas law are that there are no attractive forces between the molecules of the gas and that the molecules occupy no volume. If you look at your van der Waal's equation, [P+a(n/v)2](v/n-b)=RT, you will notice that if both a and b are zero, it reduces to PV/n=RT, the ideal gas equation. A quick look at a table of constants (for example
http://en.wikipedia.org/wiki/Van_der_Waals_constants_(data_page)) will show you that molecules which are very small and have little interaction (for example, Helium) have constants very close to zero, meaning they behave in a very similar manner to ideal gases. Large molecules with strong attractive forces, for example bromobenzene, have large constants and differ significantly from ideal gases.
The molecules of all pure neutral compounds have some form of attractive force, including zwitterionic charge interactions, hydrogen bonding, dipole moments, London forces, and so forth. This means that at relatively large volumes, the pressure that you measure in a real gas will always be somewhat less than you would expect from the Ideal Gas Law, due to the fact that the molecules are pulling together. This reduces the amount of force pressing against the sides of the container.
Acting against this is the fact that the free space between the molecules is slightly less than predicted by the Ideal Gas Law. The molecules aren't single points - they do occupy some volume. Imagine two baseballs being thrown at each other - when they are twenty feet away, you can pretty much ignore the volume of the baseball when you are calculating how far they will have to travel to hit each other, but when they are five inches away, that volume becomes significant. In the van der Waal's equation, as you increase the number of moles of gas in a given volume, you are packing the molecules closer together and both the molecular interactions and the actual volume of the molecule become more significant.
Compressibility factors are another way to measure the reduced pressure (or temperature) that you see in real gases from what you would expect from an ideal gas. Again, since all neutral molecules have some attractive force, the pressure that you measure will always be slightly less than the pressure that the ideal gas law will predict. Compressibility factors use indirect measurements of the attractive forces between molecules by calculating from the critical point, which is the combination of temperature and pressure at which a stable mixture of gas, liquid, and solid of the same molecule can be maintained. The stronger the attractive forces between molecules, the higher the temperature at which gas and liquid would be in equilibrium, for example.
So the Ideal Gas Law should always give you the highest estimate of pressure for a pure neutral compound in its gas form. The Real Gas equations all have various mechanisms to correct this measurement and obtain a number closer to what the measured pressure will be.
A little long winded, I know, but I hope this helps.