I don't use a water pan in my electric smoker or any of my grills (pellet pooper, kettles, or gasser) and the only time I use a rib rack is to fit several slabs on the 22" kettle. My ribs are never dry, regardless of whether I wrap or not.
If you're concerned with your ribs drying out, wrapping, spritzing or mopping can be helpful. Other than that, if the process you use on the gasser works well, it should be just fine on the SmokeFire, assuming you're cooking to tenderness rather than temperature or time.