I would change the order of those steps, but otherwise you've got it right. ;)
If your pit is set to 225° or so, the fish should take about 45 minutes. If you're cooking over hot coals you'll need to soak that plank most of the day and the fish will take half as long.
YMMV - you just need to watch it for two things:
1. Don't let your plank catch on fire, and
2. When the fish flakes easily with a fork, pull it - it's done.
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