I guess I am on the fence on this one. I only buy the good wood since moving over to #2 smoker. I would also think a wetter wood would product more smoke, but can you tell the difference?
Food for thought here is some info posted on American Wood Product site about the moisture content of wood (note they sell wood).
When the moisture content of the wood is higher, it adds more water vapor to the smoke, keeping the surface of the meat from drying out too much and thus allowing the smoke flavor to penetrate deeper into the food. Higher moisture woods reduce the need for a separate water tray at the bottom of the smoker and maximize the smoke flavor in your food.High Moisture Content
American Wood Products' high moisture wood is 25% - 35% moisture. This type of wood is generally going to be more expensive than those of lower moisture levels because of the level of care needed to maintain high moisture levels. This level of moisture is the BEST for obtaining a great smokey flavor when smoking at home. This product should not be used for cold smoking, and unused product should be kept in a freezer to maintain freshness and retain moisture.
Moderate Moisture Content
American Wood Products' moderate moisture wood has 16% - 24% moisture. Moderate moisture wood is a great product that can be used for just about any sort of smoking. If you are new to smoking, it is highly suggested that you buy moderate moisture wood products. All moderate moisture products should be stored in a cool, dark place to help retain moisture.
Low Moisture Content
American Wood Products' low moisture wood has less than 15% moisture. This is the most common type of smoking wood available on the market. This type of wood will dry out meats very quickly and is best used for cold smoking. Unlike the high or moderate moisture wood, the smoke produced from this level of moisture will most likely not penetrate very deep into the meat. This product is highly recommended if you are cold smoking, or need a product with a nearly unlimited shelf life.
Greg