Dan,
the only issue with having them out of the water is its hot over here and the fish will go off very quickly whereas in the water they stay fresh.
the drag isnt to big of an issue with a couple of fish but when you start getting more its best to string them at teh back of your float on the stringer through the eyes or up through there chin and out the top of there head, it keeps their mouth closed and there is littel drag as thats the way fish swim.
Stringers are usually metal cable.
I think what ever works is best, what works over here wont always work over there