NO CORALS. They will die.
Some people like to cycle with hardy fish, like damsels. Personally, it didn't work for me. If it does work, they the drawback is you have fish you may not desire over the long term.
You cannot generally cycle with invertebrates, because your water may become toxic to them as your tank cycles. shrimp and snails apparently do not like the nitrite/nitrate bump. However, I gotta tell you that my LFS gave me some red legged hermit crabs, and they seemed to have weathered it just fine.
Whether you just put in the live rock, or drop in a chopped up shrimp to get things going, test your water every 2-3 days. Graph the results. You will see your ammonia spike and the nitrites follow. When the ammonia and nitrites go back to zero and stay there, you are ready for a water change to bring down your nitrate levels and then it's time to rock and roll!
That's where I am... and I am so psyched! Now if my damn RO/DI filter could just get here sooner so I could get this show on the road...
This is a previous post by Skip you may find helpful...
A cycle and waste go hand in hand.
Adding a fish or a cocktail shrimp is one way of adding waste to the tank, this waste is then broken down by 2 different bacterias (nitrosomas and nitrobacters). The first converts toxic ammonia into nitrites and the second converts the less toxic nitrites into nitrates. When referring to LR being fully cured it is kind of the same thing, when LR is harvested it is going to have some die-off of the organisms that live on the LR, these dead organisms also produce waste and the waste is processed in the same way and when it is fully cycled the LR is cured. In both cases the bacteria I mentioned grow on the porous surface of the LR. This is also why when you start adding livestock to the aquarium you want to do so in small increments instead of dumping everything in there at once. Your tank only grows as much bacteria as is needed to process the waste your tank produces and when you make additions to the tank you are adding more waste and you need to give the bacteria time to multiply to be able to process the added waste.