Air circulation is key, and getting it up off the ground, either hanging, or propped up on a rock/log/stump is a must. Tramp down all snow, and don't pack it in the cavity, it will make the meat wet, promoting the spread of bactieria, and will also inslulate it. Hide on or hide off is generaly of no consequence to me if the temps aren't too warm, say 30-40's at night and less than 60 in the day time. A little black pepper keeps the flies at bay.
On bigger bulls, we'll cut the neck off as well, or skin it back, and also skin/seperate the front shoulders from the ribs at the brisket, and put a stick in the ribs to keep them open.
I would say for a novice, skining them out is probably your best bet, and you don't have to worry about it.
I know what works for me and don't see myself changing anytime soon. I've never eaten a 'bad tasting' elk, had more than one that was shoe leather/chewy though.
