Whew, you are basically asking me to recount one hundred years of Old Testament scholarship.  More interesting is that Rich Rodriquez and I did a show on this very subject this past Friday.  (This should be a reason for people to start tuning in on Wednesday and Friday shows in Stickam, because a lot of information gets tossed around) 

First of all, the names that the Jews have called themselves can tell us a little bit about their past.  The term 'Hebrew' may stem from the Egyptian 'apiru which means "wanderer."  Additionally, 'Israelite' may stem from the region if ys'rael, which might have been an eponymic figure discussed along side Hurru on the Merneptah Stele, which could also signify a theophoric name of a region (the God El would be worshiped in this area of Gaza discussed on the Merneptah Stele).  In every case where, esp. in the Hebrew Bible (known as the Old Testament to Christians), these two terms are applicable in these manners. (i.e. when the term Hebrew is used it is signifying a wanderer or wandering about; Israelite has the eponymic quality when used, including Hurru, such as the man Huri found in Genesis 36:22 and 1 Chronicles 1:39, and Asher, Jacob's son)

But this offers us additional information.  It gives us an understanding of where the early nomadic "proto-Israelites" came from.  The evidence suggests that these nomads, also known as Shasu in Egyptian, or sutu in Akkadian, are in fact native Transjordians who migrated to the region of Gaza sometime during the first millennium.  There was no exodus from Egypt, nor was there a monarchal period under the rule of David and Solomon, and no archaeological evidence exists for these individuals either.  What we know is that these Shasu or Canaan nomads did set up settlements, in many places they set up bedouin camps, some became more elaborate including fortress-type baracades including gates.  Under the period where the conquest was supposed to be occurring, the Egyptians has already conquered and controlled most of the regions of Palestine during their New Kingdom dynasties.  The Akkadians and the Hittites has become provinces of Egypt, and many of the heads of these regions in fact become puppets to the Pharaohs.  Interesting enough, the Amarna letters mention a Jerusalem (which seems to have existed in some fashion around this period) but does not mention any Israelite and they're written in Akkadian cuneiform.  

It is not until the Persian period where any evidence of a "people" of Israel are witnessed, and they are in fact located in Samaria (they're Samaritans).  It is these Samaritans who are taken off into exile and then brought back (some remain in exile) by the Babylonians.  Much of the mythology of the Israelites, however, stems from Canaan and Egyptian mythology, although quite a bit of it is Canaanite in origin, such as the original pantheon of Gods worshiped by the early Samaritans which included Baal at the head.  Yahwistic worship does extend into these regions but appears to be focused more in the low parts of the hill country, such as around Jerusalem.  The actual Hebrew Bible is a little tougher to date, and thus far all dating is tentative.  However, there is very strong evidence, based on writing practices and literacy rates, that would make the Hebrew Bible dateable to between the Persian period through to the Hellenistic period.  It can be said that the traditions probably stem from as early back as the Persian period, however it would have been later in the Persian period and probably more into late antiquity that one sees a composition of many of the books. 

Sorry for the rushed response here, but I'm really tired and I have an article to finish for submission.  You may want to check my blog for additional material and resources for more information. 

Glad that you enjoyed it. 

The best to you

=D