Street car on the track - newbie questions

Dropping pressure (within a reasonable range) won't hurt anything, it's actually very common. Burnout would help as well but I would definitely pull around the water and back the rear tires into the water, after rear tires are wet, pull just out of the water and begin the burnout. The street front runners would hold water and carry the water to the tree, and possibly farther than that.
Will soon be attending a car show/bracket race event with my demon. Was at the same event last year but let my uncle drive the car.

I run BFG 275/60R15 on the rear. Is it safe/smart to drop the pressure for the trips down the strip? It spun quite a bit last year but we lowered pressure each time until finally we were around 17lb and it launched much better.

Also, water burnout? No burnout?

Sorry for the possibly obvious questions, just looking for some opinions. Thanks.
It depends on how much power you have and chassis set up plus transmission. If you have more than 350 / 400 hp street tires may be useless just go around the water and spin them just enough to clean them off and ease off the line you should be able to 60 foot under 2 seconds. Get to greedy at the start and all you will do is spin, good luck and have fun