I prefer working with a completely dry pad. I use products that are heavily lubricated like HD Polish+, Scholl Concepts, Boss Creams and in my experience introducing a mist of water onto the pad can affect the cut of the compound or polish and can also make removal more difficult. After I wash my pads, before I put them on the rack to dry I will spritz them with the Wolfgang pads conditioner. No sure if it's actually beneficial but since I bought the 64oz. when they were going out of stock I'm trying to use it up.
As for priming, I don't even prime microfiber. I find with products like Fast Correcting Cream the pad gets primed after just 1-2 section passes anyway and in my opinion a pad that is too heavily primed generates more heat on the pad and backing plate and also more stress on the polisher. Everyone has their own method and it really comes down to personal preference. Good luck!