From seeing this exact disscussion approximately 5,000 times in various places.....here's the basic conclusion I've reached:
1) If everywhere you see recommendations to "season" or air dry your wood for 6 months or more, it just seems counter-productive to add water back into it......
2) Some people do just fine soaking chips.....I've had much more trouble with it, esp. before I got the hang of fire management, which, at times, I STILL do not have the hang of.....
3) Some people use fresh cut wood in large smokers ( which, if you thnk about it, is like re-soaking seasoned wood)....... Myron Mixon, noteably, cuts fresh peach & goes after the sap that leaks on the branches.....wet wood can be used, but ya damn well better know how to work with it, or it'll be the most acrid tasting "Q" you'll ever eat.....
4) I do soak shread, sawdust some people call it, under controlled conditions, it produces a very smooth taste, but it's tricky........
See Here:
http://weberkettleclub.com/forums/introduce-yourself/this-is-great-!!!/15/near the bottom is an explanation......
5) All of the above may easily be reguarded as bullshit by anyone who has different experince.....