Of course there are rules for how the phonetic symbols relate to the sounds, and they're explained somewhere in every dictionary, usually under a title such as 'Guide to pronunciation symbols.'
Many AE dictionaries use a similar system, which is based not on IPA but on the way phonics is usually taught to children in US schools. The general rule is that letters with a macron (dash) over them are
long vowels, which means they sound like the name of the letter in the English alphabet:
name, me, like, hope, rude. Vowels without a long sign are
short by default:
hat, bed, sit, top, bud. There will be a couple more symbols for the vowels of f
ather and b
ook, and the schwa is a schwa (upside-down small E), but that's mostly it. It's really not that hard.
The other tip is that in many AE dictionaries, the stress mark comes
after the syllable stressed, not before it as in IPA.
I don't know exactly which symbols M-W uses, and since I'm not fond of the M-W website either, I'm afraid I don't want to volunteer to test this link. But it looks like it may be what you're looking for:
http://mw1.m-w.com/help/pronguide.htm@Werner: —> pro
nunciation, pro
nunciation, pro
nunciation