It depends on what you are after.
I don't dry hop this and haven't for a very long time as i don't find it necessary. The flameout addition gives me all the aroma i want. If you want more aroma, dry hop. Dry hopping can be done in the primary fermenter, just wait until fermentation is done.
Racking is optional, you can simply leave it in the primary fermenter for another week after fermetnation has finished. 2 weeks total would be the minimum, 3 better.
I give my ales 2 weeks primary, rack and then 1-2+ weeks cold conditioning.
Racking is one of the many aspects of brewing that divides brewers.
I always rack as the cake at the bottom of the fermenter contains more than just yeast (proteins/polyphenols/hop resins etc) and I don't want my beer in contact with them for extended periods. Racking causes a small amount of turbulence which releases CO2 that is still in solution so as long as you rack into a sanitised container with minimal headspace, the infection risk is negligible.