I plan on painting it, but the wood was still wet from the pressure treatments so I wanted it to dry out first. I also have guards to go over the windows and the rails on the windows have holes in the bottom to allow water to drain out if necessary (you know those sideways rains we get sometimes).
I do not plan to elevate it at this time because it is not necessary in the position it is in. Most of the trees around a either browsed up pretty high or shorter than the window. If I relocate it at a later date I would consider elevating.