I've tried it and was considering doing all crops with it but I now have enough regular cured so it's not needed.
If you're going to be toking bud one week from harvest, water curing is the way to go. Bag appeal isn't our concern, just as well because water cured buds look like manky left overs.

It's stronger in that an ounce will become 0.85oz or thereabouts but will have lost hardly any trics.
Smooth taste, less cough. A very good way of dealing with shitty tasting weed, not so good for great tasting weed.
Each and every day, get the water for tomorrow in place, don't be using stuff straight from the tap, you want it tepid. Same time every day, carefully change the water. It'll smell like cabbage. Keep the wet weed somewhere dark. On the 7th day, start drying it, it will dry in a few hours not days so not too much heat.