I borrowed part of this old thread (Music Theory 101) from my friend dotcom. It has lots of useful info in it worth reviewing from time to time.
Chord Families: You can think of there being three basic families of chords: Tonic, Sub-dominant, and Dominant. You can use chords from the same family as substitutions for each other. Also, learn to recognize (hear) when the chord family changes, you should be able to tell just by "listening" what family is being played at any given point in a song. This will improve your ear training.
I - Cmaj7 - Tonic
II - Dm7 - Sub-dominant
III - Em7 - Tonic
IV - Fmaj7 - Sub-dominant
V - G7 - Dominant
VI - Am7 - Tonic
VII - Bm7b5 - Dominant
Tonic Family: I, III & VI (Cmaj7, Em7 or Am7) All 3 may sub for each other.
Sub Dominant Family: II & IV (Dm7, Fmaj7) Both may sub for each other.
Dominant Family: V & VII (G7, Bm7b5) Both may sub for each other.