Regarding hydration, here's a quick overview:
Water equilibrates easily across all body spaces. Conceptually, we divide the water in the body into three compartments -- Intravascular, or what's circulating in the bloodstream; interstitial, or what's between the cells, and intracellular. Water is added to and lost primarily from the intravascular space. This is because consumed fluids are absorbed into the blood vessels of the gut, and fluid is primarily lost through urine production and evaporation into the air you breathe. Sweat can also be a significant fluid loss in hot, humid places (like Florida in the summertime). Intravascular volume can be lost and repleted VERY rapidly -- in the order of minutes. Anybody who has consumed a soft drink while driving knows this
Once volume is lost from the intravascular space, the water in the body shifts around to replace it. The first thing that happens is that water moves from the interstitial spaces, and then water comes out of the cells to replace THAT. These processes are slower, and occur over hours.
Intravascular volume depletion quickly elicits a thirst response, so most healthy people who are able to drink fluids and keep them down will not get to the point where they have lost interstitial or intracellular volume, unless they are in a heat stress situation where they just can't keep up with their needs. But in high heat and humidity, it does take a LOT of oral intake to maintain normal volume status.
So I would say that, in the absence of illness, excessive alcohol intake, or severe heat stress, hydrating the morning of a dive is probably completely adequate, since you are not trying to replete significant losses. But since there are few issues with generous hydration, making sure your fluid intake is adequate throughout the 24 hour cycle (especially with days of repetitive diving) is not a bad thing. If you are doing this in high heat stress conditions, considering a diluted electrolyte solution for part of your intake (1/2 strength Gatorade, for example) is not a bad idea.