Dry fire is a great way to get all the 'good' practice in without the muscle memory of recoil. This is especially good with using large caliber handguns in sports like silhouette shooting.
The hard part with dry fire is to take it just as seriously as you would live fire. You really want to be able to say exactly where the sights were in relation to the target when the gun goes 'click'.
My dry fire distance is much shorter than the average range, so I had to make my own targets to get the same size black dot. But that's pretty easy with a scanner and printer. Just scan in the normal target, use ms paint or other graphics program to reduce it to the same percentage as your dry-fire distance is to the proper range
Lets say your Dry Fire distance is 10' and the target you are using is a 50' National Match Slow Fire. Well, 10' is 20% of 50', so you would reduce the scan to 20% of it's original size. Print and post.
I recommend using 'snap caps' of some kind during dry fire. Not only will they allow you to cycle the action and add some weight to the gun, but by pluggiing the chamber, there is no chance of a broken firing pin being sent out the barrel.
I usually take a few minutes after work to relax, and have found that dry-fire is just the ticket. Don't do it long, but 10-20 minutes every day does help.