From the articles ive read...

Water curing is for buds that werent flushed properly and are very harsh to smoke. Also read that it does reduce the smell/flavor of the bud, but it makes it smokeable.

From what ive gathered about it (never done it myself), it is best used for non flushed bud. If you properly flushed and harvested your bud then regular jar curing would be best.

Search for water curing threads here on the forums for more info.