power store setting up Dev

Hi. I purchased PowerStore.

I need some best-practices advice on the set-up.
I' want to set-up the store on my local test server first. Test the site before putting it on the live server.
Can I set up the store on my local server and then upload (FTP) up the files to the live server when I'm ready to go live?
Will I need to run the installation wizard again after the site is live to update the server settings?

a little more info:
I have a test server set up on my computer along with a sql database.
I'm running through the powerstore install. I entered my local server info for the server information.
The installation wizard says "After continuing to the admin, please delete the install folder."
Since I'm only setting this up on my dev/local server should I remove the install folder or will I need it later when I go to install on the Live server?

The help materials mention that Powerstore allows you to install it on a live and local/test server. But I'm unclear on the process of setting up the test site first and then publishing the files to a live server.

Thanks for your help,
Danielle