ScubaBrucie

You need pockets if you are not doing it wrong. There is nowhere else to store stuff if you are using a BP/W. There is a system as to what goes in each pocket which you will find on DIR websites. The pockets should have bellows held down with velcro with eyelets at the top. You put a loop of shockcord through the eyelets and then attach all your stuff using piston clips and double enders.
There is far less drag than using a BCD because the pockets are protected from the flow by your shoulders.
As for position just ask your supplier for DIR pockets.
There is another way, which is to wear X Shorts. These pull over your suit and have the pockets already attached.

They go on the sides of your thigh, not the front, for a number of reasons (streamlining, freedom of finning movement, getting back on the boat etc). Fit them so the bottom of the pocket is in line with your fingertips with your fingers fully extended.They should have bellows with velcro used to keep the bellows closed and velcro on the flap over the top (definitely not a zip) of the pocket. You need a loop of bungee cord inside the top of the pocket to attach everything to, this goes through an eyelet at the top of the pocket to keep it secure. Everything that goes in has a piston clip on it to attach to the bungy cord.
DIR has the right hand pocket smaller than the left, sometimes using a non bellows pocket. The idea being that wetnotes, deco tables, and things needed on the dive go in the right pocket and spare mask and all other backup items etc go in the left hand pocket which is protected from slipstream by the stages. The SMB goes in the backplate pocket and the lights are all worn externally.

Here is how to fit them: http://www.direxplorers.com/dir-kit-set-up-fundamentals/1012-drysuit-pockets-glue.html

X Shorts are a good idea if you use different suits. Then you can kit up and just pull the shorts over the top with all their contents already in. I have a pair and they work well.