Disclamer: look, I'm not a mechanic. I push pens all day long for a living, so if you screw up your boat because of my bad advise, don't blame me.
That said John, that's exactly what I did last year and it worked. Be careful, though: when I say open the switches, I mean that there is a manual bypass on the solenoids. I didn't mean to flip the electric switch on your dash and remove the power. Look on the actual solenoid valves (they are in the engine compartment in the case of a LS) it's like a little plastic thing that rotates 90 degrees that you flip to the other position. This is the exact same switch that causes ballasts to fill on their own when you drive if they were left open by mistake. Look in your owner's manual, there's a picture of this.
Also, I forgot to mention that I removed the front ballast bag entirely and stored it indoors. I probably over-did it, but it beats having to deal with leaks in the spring.