It removes a lot of the strong taste. I think it works great on rough fish. The first time I tried it on a big CC, I let the fillets marinate overnight in the soda. That was a mistake, as they had very little taste at all, and I like to be able to tell that I'm eating fish. Since then I just marinate for a few hours, not overnight.
Yes, just pat them dry, then bread and fry as usual.