Personal Preference on whether to hunt in a stand or on the ground. However being elevated helps to keep your scent away from deers noses and you have increased visibility. The ground has its advantages too though, I have found that it is much easier to make a one time hunting spot on the ground and for a quick setup you generally have more shooting lanes. Both techniques work well.

As for when to gut a deer, it all depends on you. If you plan to hunt the area again I would wait until your away from your hunting ground, as I have had expierences where a blood trail left from a wounded deer will upset your whole hunting area and your deer sightings will decline greatly.
Good Luck!