I have always used socks but just bought my first new pair of tri-bike shoes and will start doing some rides without socks to get ready for my Olympic in May. For my race this weekend...socks.

I'm sure you can find some youtube clips about how to use the rubber bands. That is another thing that I will try after this weekend.

That brings up another really good point...NEVER do something for the first time on race day! Practice those things first to be sure that you know what you're doing and that you are comfortable with the results. Just because it is a time saver doesn't mean that it is a good thing for everybody.