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I used to soak my wood but after reading up on this forum I don't think alot of people do it. I stopped it also. I think it actually just delays the smoke.
As far as smoking for only 4 hours I think 2 sides exist to that. The people that believe that meat after 4 hours doesn't gain much more smoke. Then you have the people that use the smoke the whole way through. I would experiment see what you like best.