Will the hot foot sit straight up like the first pic or lower like the second pic after install? Straight up looks very uncomfortable.

I believe mine is pretty much straight up and down.   Don't pay much attention to it anymore I guess.

Can anyone tell how this comes apart? Do I just pry it apart?

Throttle cable linkage

Got it.....arm just swings up out of way.

Does it look like it is connected correctly. Directions sheet leaves a whole lot to be desired.

Yes that is correct.

I would encourage you line up your hotfoot and drill a small hole ( smaller then screw size) before you screw it down. Drop a long nail or wire down in it too double check how much clearance you have between hull and floor.

Screws thru the hull...will make you cry.

I built a floor plate out of aluminum running board. I mounted my hotfoot to that. Then glued the plate to the floor of my boat. Much better in my opinion.