There can still be lots of stuff to filter out in terms of particulate IMO. It all depends on the vape and grind, for people that grind fine, it can make a huge difference. My supreme produces globules of vapour boogers in my water/glass...that is pure oil getting trapped. There are threads about it, and I believe the consensus is that it does rob actives, however this is mitigated by being able to take much larger hits. There is more than THC to the cannabis plant as you know...terpenes are hugely responsible for this "entourage effect" as well as all the other cannabinoids. I literally can see oil films IN my water even after just one use. Something is being trapped, and it's not just the bad stuff. Exactly...whatever works for you.....and variety is nice, but dry hits are something I just barely rarely do since I can't hit the temps I need comfortably. I prefer warm water. I also feel it doesn't condense and trap goodies as readily as cold. And yeah, the bong still stinks foul! But nothing like combustion. The WORST is the smell in the bong from enail extract use. Rivals or worse than combustion smell IMO.