Not sure where you are in this process but I can give you my opinion. Look up the Dry cured Bacon Calculator in the Wikis under instructional. This will make it easy to determine how much cure and salt is required to do a dry cure. After that the rest is up to you. I like to apply cure mix 3 separate times at 3 day intervals. I find it allows for a good distribution of cure and salt. I also like to use a very heavy sugar coat toward the end, even stretching the cure time out for a couple of days to add more sugar and allow it to help dry out and sweeten the bacon. I find that by doing a dry cure I get a denser, less salty, more flavorful bacon a lot like both Diggy and Dave described. When you wet cure bacon the final product should be 10% heavier in weight depending on the concentration of cure in your brine. Dry cured bacon generally weighs less before smoking.
As far as smoking the trick is to have the bacon ready to smoke when you can give 40 hours or so of constant smoke. I have gone as long as 36 hours in the smokehouse and the bacon was delicious. I know of no reason to smoke much longer then that but I would imagine that if you do you would be better leaving it in the smokehouse and just letting it go. Whenever your remove the bacon from the smoke you need to cool it back down to refrigerator temps, rebuild a fire, rehang the bacon and so on. It's just easier to set your schedule to allow for an uninterrupted time period
As far as allowing the bacon to meld at the end, I find that if it goes too long the bacon can become a bit tough. I have allowed bacon to sit lightly covered in the fridge after smoking for up to 8 days but there was a noticeable difference in it's toughness. The meat will continue to dry, remember, a refrigerator is normally pretty low humidity. At some point I recommend after a couple of days go ahead and vacuum pack the bacon and freeze it. It will continue to meld in the freezer, even if at a slower pace.