I just found out about this the other day myself. If you want to get on board with this I suggest you download the client now as its taking a few days to sync the blockchain.
The key date to keep in mind is August 7th, thats when the next ByteBall distribution happens. You'll need to have BTC in the address you provide to the ByteBall transition bot by that point to be eligible to get ByteBall.
I participated in the July distribution with the mobile wallet. I know the full client is probably better but i like the idea of having the bytes on my phone.
Yeah, I compiled and installed the mobile client on my iPhone, but I also wanted to have a full wallet as well. I'm considering converting some of my alt coins to BTC temporarily so I can maximize how much ByteBall I get during the distro on August 7th. There has been so much volatility lately though I'm not sure if its a great idea.
The only problem i have is holding any BTC during Segwit activation. I think it will be around the same time. The good this is that you get ByteBall by having ByteBall!!!