I use a tazer. 2nd gear for my burnout. Gotta let off the line lock pretty quick after hitting the throttle, then slowly back off the throttle or you will disappear in a cloud of tire smoke.
What I do is before I roll into the beams, I set my rpms and then just let off the brake to move the car forward. A lot of times I let the other car pre stage first, and then I just roll through both yellows so I am fully staged. That gives me a little extra time to settle in. I actually have my rpms as low as they can be while still having the drivetrain loaded. That way you can roll forward just using the brakes.You need to have your rpms steady when you roll in. Also, you can't time the lights, gotta just watch that last yellow bulb. (Or at least I've never been able to do it in the last thousand runs I've made, lol)
Like Linda said, with street tires you go around the water box. This is true if you have a standard street tire on the front, too, and a drag tire on the back. For street tires, you just want to get them cleaned off so just a quick little burnout is sufficient.
As for gearing, typically you'd want to be right near max power when you hit the finish line, so you would set up your gearing and tire height to be right near the end of whatever gear you are in at the end of the 1/4. So, if say you were running a 2.62 diff and a 28" tire and you were at 6400 at the end of the track, but then you were having traction issues and had to switch to a 29.5 tire, you'd want to run a deeper rear gear.
Also, should remember that the first gear in these cars is like 4.71. 2.62x4.71=12.34. So if you were running a TH400 with a 2.48 first gear, that would be like a 4.98 rear gear. A 3.09 rear gear would be like, for a TH400, a 5.87.
I always have to do conversions like this because I think old school in terms of trans gearing, TH400, Muncie M20/2.52 first gear, etc.
A lot of this gearing stuff is pretty exacting, and is about optimizing the combo, and making the best use of the power you have available. There's a vid on youtube where a guy is running 10.50s in his 66 mustang with a 289 motor, launching at 8K and running through the traps at 8800 rpms. He's running a 6.80 rear end or something ridiculous like that.