Since catching Ho-Oh doesn't signify the end the of the game, I suggest what ever you want.
If you haven't completed the Kanto region yet ten you could do that, or if you still haven't defeated him, you could train to attempt to defeat Red. Ho-Oh is very good addition to any party, provided you update his moves a little (they all only have 5 PP).
If you mean specifically the moment after you capture him, if you can't fly from the top of his tower, an escape rope should bring you to the last Pokemon Center you visited.
Pokemon Silver (and Gold) is probably the most full Pokemon game out there, just with how much there is to do in it.
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No you can't catch Mewtwo in Pokemon silver, you must trade it from Pokemon yellow.
its is dialga
You bet
sorry you have to trade it to Pokemon soul silver
You can't. You have to get one by trading with a Gold Version. You can catch Teddiursa in Soul Silver but not Silver.