Will a new buddha arise and how will we recognize him? Are there not many buddhas masters already? Do we need a ONE perfectly enlightened being to guide the rest of us to true well being or does each person find their own well being on their own or through one of the many masters or texts available to us?

It is so rare to be born as a human being. Yet even while we have this life, it may last 100 years and we will need to face death. To awaken and realize awakening is rare, even more rare it is to meet the truth of the Buddha.
Why did the Buddha speak these words?

He did say that after 369000000 year the future Buddha will come forth in order to save those beings the Buddha left behind to be saved.

If that is true, why did the Buddha say to his students, that it is rare to meet a Buddha?

As yourself, looking for something outside, if that were to be Buddhism, then the Buddha would not have spoken these words. Whenever you take something other than yourself to be the truth, that is not Buddhism. The Buddha is teaching us to not depend on anything outside. Why then do you not awaken to your true nature and realize the wisdom of the Buddhas? To not make efforts of your own, depending on someone outside, is as if you are making a fool of yourself, putting the responsibility on someone else. This is what you need to see clearly. No one is any different to the Buddha, being worn with the same wisdom.