Making a starter for dry yeast essentially uses up all the extra bits (trehalose, glycogen etc) that are added to help kick the yeast off in a 30 litre wort before you pitch it, you will still produce beer but most likely with a sheet load of unwanted characteristics as the yeast has gone bananas in the starter then run out of food, it will not starve but will behave differently when introduced to the mother wort, to your disadvantage.
Rehydrating for 15 -30 minutes (max) will certainly help but is not really required. If your dry yeast has not been exposed to oxygen for more than a few days it will be fine.
I primarily use liquid yeast, but have to admit that even the freshest (say 2 weeks from manufacture) will never kick off as fast as a 12 month old nitro pack of US56, direct pitched.
K