Definetly better and more ethical ways to cycle a tank. You can read Jay's sticky here:
http://www.fishtankforums.com/5-fres...cycle-how.html
There is also a good cycling 'sticky' article in the SW tank forum. Either will do for you, in my opinion.
It is highly important to cycle FIRST if you are interested in avoiding problems that cost money or your fishes' lives. While many people feel that waiting just plain stinks, the problems you can avoid will make it well worth it all in the end.
In such a small tank, that is taller rather than longer, I would look for some small, mostly stationary fish. Without a good idea of what that would be right now, I would say that Bala sharks are absolutely out and I would not go with angels either since they get big, but they do share the more 'stationary' trait that you would want to stick to. If this was my tank, I might think about adding a couple of plants (if lighting requirements could be me) or some realistic fake plants and about 10 neon tetras. I would keep a betta fish singularily in this tank as they can have problems with more active fish or those which have longer fins. Tiger barbs are relatively aggressive, but I believe they are labeled 'semi-aggressive' because the worst they can do is nip some fins (as this is not bad enough, right?!?!?!) This would be a tough call for me, but I really like small schools of fish for smaller tanks like yours and probrably some more natural looking substrate (maybe sand or brown gravel) and some taller plants. My sister did this with a 35 gallon hex and it is REALLY nice looking, IMO.