Wow!!! Lots of good thoughts, but the prevailing thinking seems to say that it is a waste of effort to utilize a water pan. I have no problem regulating the temp in either of my offsets, so that's not a consideration. I had wondered if the added moisture content in the pit area would slow the water loss rate in the meat, but most here didn't seem to think there would be a difference. I also noticed several who considered that using a water pan could cause a longer warm up period (makes sense), and thereby wasting fuel (those logs ARE a pain to cut and split). And since I really don't seem to have a problem with dry meat, I guess this is a moot point.
Therefore, unless I want greasy, smoky-flavored martinis, I guess I'll skip the water pan.