Wet setting the vertical rebar coming out of the footing is pretty much standard practice here and what we did with my footing. The concrete is generally stiff enough to hold them up. You may have a couple that lean - just come back in 10-15 minutes after the concrete has stiffened up a bit and straighten them up. Have some wood stakes set out beyond your footings so you can run string lines from corner to corner after the concrete is leveled off to provide a straight line on where to set the verticals. If you are using ICF, make sure you set your verticals in from the corners the recommended distance so they line up with the cells in the ICF - you don't want the rebar lining up with the ties in the ICF. Every 2' on center is pretty standard spacing for above grade walls and should work with most ICFs having ties every 6" or 8" on center. Mine were set on 16" in my basement to line up with my vertical rebar set on 16" centers. Remember not to set vertical rebar where you have doorways, otherwise you will have to come back with a grinder and cut them off.
Another thing you might consider for your slab edge forming is Fab-Form Fastfoot fabric footing forms. Here is a link to my project on the Fab-Form website (they sent me a couple of T-shirts for sending them the photos):
http://www.fab-form.com/fastfoot/fa...nSmith.php Since you are in GA, I assume that red clay will look familiar.