Honestly, I've never wet cured... well, I have, but never with water.
I consider curing in a bag, with nothing but dry ingredients to be wet curing... the only water is that which is pulled out of the meat, but that moisture tends to be left hanging around on the meat... so it in a sense is wet cured.
I personally wrap my curing bellies in cellophane , I find it very easy to do ( the hardest part is yanking the hunk of cellophane off the roll/cutter and not getting it all waded up )... I wrap it as tightly as I can, so any moisture that gets pulled out of the meat has no place to go really, it just sits there... heck, I don't even 'flip' my belly while it cures anymore, because I'm so confident of how close the cure is held against the meat.
Taste in general... again, I've never done a immersion cure, so I can't directly comment to any taste difference there might be between the two methods Bentley has done.... However I can tell you that in general... It's very hard for me to tell the difference between bacon cured using white sugar, brown sugar, or maple sugar... My daughter and I have done several blind tastings, and my conclusion is that I absolutely can't tell the difference between the types of sugar. I think to make much of a difference in flavor , you'd have to really go excessive with things like sugar, or spices.... Now salt's a different matter... I'm certain I could tell the difference between bacon made with 3% salt, vs 2%... for me 2% is plenty of salt... 3% would be too much.. but I guess to some degree it depends on how much sugar you added...
I've cured 2" thick hunks of belly in as little as 5 days and haven't seen any signs that the cure didn't penetrate all the way into the belly... However, I normally go 7 to 10 days, and because I use 2% salt, there's virtually no chance of it becoming too salty , even if I were to go more like 14 days I don't think it would become too salty.