Bob,
It's best to leave the pieces as cut, the drying process will move the wood in ways you'd never imagine. Stack with stickers between each layer, and at least 6" off the ground or floor. If stacked inside, no need to cover, let the air flow. Outside stacking needs to be covered and enclosed to prevent weathering, but ventilation is key.
You may also want to paint the ends of each board with a brush on oil based paint. This will slow the evaporation loss of moisture from end grain that can create unnessary checking.
After a year or so the boards should be checked for moisture content and ready to use. If you haven't worked with air dried lumber you're going to enjoy the experience.
After the 2008 Ice Storm I had a 1000 board feet of Red Oak and 600 board feet of Maple sawed from down trees in my yard. I stacked in a storage area in my basement. Still have much of it on hand and enjoy using.
Best,
Jim Allen