the right way is i think theres a drain plug on the block somewhere but.....if you drain the radiator or pull the bottom hose that will help.......there's still gonna be some water in there and you wont know it till you pull the manifold....which, i've done it that way before and gotten water in there and just made sure to change the oil before i started it again.....i guess theres a neat trick of sucking the water out of an engine with a shop vac to but i'm not sure how thats done....
you don't have to pull the distributor to get the manifold off, but it does give you more room to work, especially when re installing it and dealing with the front seal/gasket area.....