Read this, I won't argue with any of the posts in this thread because its not that the methods won't work its a matter of what is optimum.
hxxp://cc.bingj.com/cache.aspx?q=pearched+water+table+in+container+plants&d=4576820277477416&mkt=en-CA&setlang=en-CA&w=750949c1,49c8a46e
Thats a cached version of this pdf incase you don't want to download it but its kinda screwed up so i would reccomend reading this version instead.
hxxp://www.agf.gov.bc.ca/ornamentals/floriculture/aeration.pdf
Its not a big read but it does explain proper watering technique, what a perched water table is in container growing. It also explains total porosity, aeration porosity, and water-holding porosity and why they are important and how to measure them.
I see many people watering their plants with just enough water to moisten the soil and this is a BAD idea if you are growing with synthetics. It will lead to salt buildup and pH problems, lockouts and plant death. I actually just saved my friends 10 plants from certain death because he followed some bad advice from someone else on how to water plants and was watering them "just enough" to moisten the soil. By the time I got to them they were a day from being dead. I had to flush them and when I did I checked the runoff and the pH was at 3.8 and the ppm was at 3400.
No good.
Flush em, top dressed em with some organic love, and they are on a strict diet of water and rebounding quick.
The best (and only way to hand water if you ask me) is to water until you achieve a 10percent run off. This means if your container can hold 2L of you should water it once with a liter or so and let it sit for an hour then water again until you see about 200mL of water come out the bottom. This assures that all of the media is wet and stops dry/dead zones in the soil, plus it stops salt build up.
The reason for double watering is the same reason you wet a shammy before you dry your car with it. If the soil is dry it will repel water, its the water content of the soil that attracts and pulls moisture into it. This is because water is an odd molecule, it has a high adhesion AND a high cohesion rate. This means that it sticks to other things well and it sticks to itself well, so when the soil is wet instead of the water having to stick to the soil it can stick to both the soil and the water in the soil. Its high cohesion rate means that it is attracted to itself (basically).
So if you water dry the water will just run through and only wet portions of the soil creating dead zones in the soil and reducing the actual growing area inside the pot.