There are two ways to run your boat out of the water. The best way is to disconnect the u-joints thus disconnecting the pump from the motor (and running a hose to the motor). The other way is to run a T line in between the pump and motor. That way both bet some water. If you go this route, have two water hoses. One for the "T" and one stuck up partially up the bowl of the pump.
If you run it dry you risk hurting the pump in the areas of Impeller to Wear Ring clearance and burning seals/rope packing.
One thing to keep in mind is to not turn the water on until you fire the motor. The pressure from the hose can overpressurize the cooling system resulting in major problems.
It you want to roost you have a few alternatives. A place diverter will give you a fairly wicked roost out of the box. If you want a really high one, add a rooster booster from place diverter or by a 4 degree wedge. The other alternative is to add on a droop snoot (along with the place diverter). I would only go with a droop if your boat runs really wet and you need more lift.
Good luck and welcome to the boards!