I am actually a powerlifter (I was not aware there were any actually here? Besides the armchair ones, and Koing is more on an olympic lifter.
First it has to be said, a body builder and a powerlifter are going to have different form. A body builder lifts so he gets the best workout for the muscle he wants to work. A powerlifter uses the form that is going to allow him to lift the most.
When I hold seminars at local gyms I usually teach conventional (not sumo style) deadlifts this way: (it is easier to show than type but I'll try).
Go up to the bar with your shins touching the bar, a little wider than shoulder width. Then place your hands right outside your ankles gripping the bar. Your arms should be touching the outsides of your legs. Then sink your butt so it is parallel to the floor (it is okay if it comes up a little during the lift, everybody rounds their back a little to a certain degree when maxing) and your chest is up and "proud" while your try to maintain the tightest arch in your back you can hold. Look up towards to corner where the wall meets the ceiling. Now you want to take a deep breath and hold it in your stomach not your chest and push out on your abs stabalizing your core (this is where learning with a belt comes in), and you want to act like you are trying to spread apart the floor with your feet forcing your knees out. Now lift the bar by concentrating on your ham strings, not your quads. Try to focus on thrusting your pelvis and hips out for power not just lifting it up with your back. Obviously keep your back straight. To lock out, roll your shoulders and arms back so the weight can almost rest on your theighs. Now if it is a max, drop the weight (unless you have a pvssy gym and they do not allow it). If you are doing multiple sets you need to come down controlled and some what slow. The negative part of the lift will build strength also, and you are still focusing on keeping everything as tight as possible with the empehsis on your hams, just like if you were going down for a squat. Try to act like you want to have the ends of the weight by your heels for the best possible position for the next lift. Repeat.
So yes you obviously touch the floor unless you are doing assisted lock outs or other types of exercises that are not conventional dead lifts, and you bring the weight back down as controlled as you possibly can. You do not let it fall or go down quickly as it allows your muscles to relax, and then you will lose your stability and put tremndous strain on your muscles as they have to tense again in the wrong position. You try to keep the bar in a straight line motion. Easy up, easy down.
As for the belt. This is an arguement that only newbies argue about. If you like using a belt (I do when attempting maxes as it helps you stabalize your core, it does not do it for you, you must still do it). But, when I do my dynamic effort says I do not use a belt as you do not want your core muscles to become dependent on it. As for wraps, straps, and suits, that is a whole other arguement. But, lifting RAW allows the use of a belt.