I have never heard about "air pockets" or soaking the solenoid pack prior to installation.
700800trans is legit, but the solenoid blocks are not one of the better things to buy used.
The swap is pretty straight forward, but if this is your first time there will be a bit of a learning curve. The 10mm connector for the solenoid pack faces up toward the car and is quite a chore to get to. I have found that a ratcheting combination wrench cut down to 2-3" long is the right tool for the job. Start with getting that connector bolt off, and if you cannot you have not lost anything from trying.
If you do get it off, you will need to pop the shifter connector off, the O2 sensor connector off of the pan, and drain the pan. There are 16 8mm bolts, then you can pop the pan off. The solenoid block is retained with 8 T30 torx bits.
The other challenge is refilling the fluid. As long as you are in there, it is wise to replace the transmission filter and put some fresh fluid in there. There is a 5/16" allen plug on the backside of the transmission that you will have to pump the replacement (4-5 quarts) Mercon V into. A suction gun works, but does take some patience and a bit of a mess.