i dont know how quick they "fall out" , i have caught a few sharks that had upto 5 hooks in there mouth and they looked old . if you want to release them use a 10/0 or bigger so there is a better chance off hooking it in the corner off his mouth and not his gut , i zip tie my hook to the bait and have not had any sharks swallow my hook yet . and for those that want to keep a shark for a feed , watch your fingers even after they are dead , there nerves will still let them bite and kick while you are cutting them hours later . lol i have nearly been biten by a dead shark .
for taste you do the fins as stated above than soak over night in milk for best results if you dont want to soak in milk atleast leave it in the fridge over night and that will remove any amonia taste .
cheers nico