The only problem with peat moss is the high acidity of it. This can be easily fixed with some lime. One of the great things about peat is the amount of water that it holds. You cannot use peat moss by itself, but in the right mixture it is a great medium. I use a mixture that is almost 1/2 peat moss. This is a recipie i got from DJ Short, who from my understanding, knows quite a bit about growing da dank. There is nothing wrong with holding water, as long as there is enough oxygen for the roots as well.