I don't think it smells any worse personally, but all it does is delay the wood from burning properly. The fire evaporates all the water out and then it starts burning like it would have if you would have just left the wood dry. So it does't accomplish anything useful. Save your time soaking them and just toss them on.
If you feel you need to slow the burn time down, just wrap the piece of wood in tin foil and poke some holes in it. That will cut down the air it can get and make it burn slower. It also keeps the wet wood from making the temps drop till the wet wood gets going. Cooking with 100% wood has both draw backs and benefits. charcoal briquettes are the best way to hold a consistent temp and many cookers do start with a bed of charcoal to get a good coal bed started and then start adding wood.
Dry wood does burn faster, no doubt but it burns very clean. Cooking with wood is different then trying to get a long overnight burn like you want in a stove or wood heater. The thing about meat is it will only absorb so much smoke and once the bark seals up or sears on the outside, then any smoke does not penetrate much after that. Thats why many cookers wrap there meat in foil to finish the cooking. You can do the same by smoking it till it sears and you have gotten all the smoke it will take and finish it off in the oven. Because by that time all you need is heat to finish it off. Too much creosote can leave a bitter taste and will give you the squirts when you take a dump. I know many places where they can make some great bbq up north, but down here we are the king of great bbq. Texas is the best place to get the best bbq in the world. We have perfected the art, and it is an art. You can still find some bbq down here that sucks but most of the good ones have perfected the art. Like I have said before, the proper fire is the key. And since all bbq pits cook differently because of there design, you have to experiment till you find that particular pits sweet spot. People complain that using very dry wood takes a lot more wood and more attention to keep it burning properly. But that is just part of doing it right. Pits come in all sizes and shapes and they all have different size fire boxes. So you have to find the right size wood for the size of the fire box for it to cook at it's optimal range. Thats why a good bbq master will sit up all night and tend the pit so they can keep it running at it's best for the entire duration of the cook.
You see down here winter last about five min so my business is mostly bbq wood sales year round not just fire wood.
My secret is to split green wood as soon as I get it, then NEVER let it sit on the ground or get rained on because that starts the fungus and mold to start setting in. You have to split it green then stack it where it stays dry and doesn't get rained on. Once it's dry, you have to keep it dry.
If I cut my rounds and stack the rounds off the ground and let it dry in the round the quality will go way down. Because it drys to slowly and that allows the fungus and mold to set in. It's fine for just plane firewood but not for quality bbq wood. Ever split a round and see the fungus roots start running down into the wood like roots of a tree? Fungus will put roots down deep into the wood and thats fine for firewood but not for cooking wood.
You must have just enough fire to get you pit to run at the temp your looking for but not put out that white smoke. You need a clean fire that puts of almost no smoke, just heat waves with a slight bluish tent to the smoke. When it's cold steel smokers are great heat sinks and it will cause the temps to drop below the proper range, so a lot of cookers will wrap there smoker in insulation to keep the air temps from sucking the heat out of the pit. If your cooking when it's cold, just go to the hardware store and buy a role of pink fiberglass insulation and close up the pit and wrap the smoker with a layer of insulation. Don't wrap the firebox, just the smoker chamber itself. That will help keep the temps up in the smoker when the air temps are low.
Treat your cooking wood different then your firewood. Split it green and stack it right away under a cover to keep the rain off of it. Keep it up off the ground and stack it where it gets good air flow under the bottom. Just cover the top with tin or R panel works best. Covering it with a tarp or plywood doesn't work as well. My cooking wood is kept under a tin roof with no sides and lots of air flow around the sides. Don't stack the rows to close together ether. You want good air flow around each stack to keep the mold and fungus from setting in because to much wood stacked to close together will stem good airflow.
Also try only cooking with 100% heart wood with no bark. Heart wood will burn the cleanest and make that bbq taste great.
Trust me, I have been smoking meat all my life and I sell to most all of the competition bbq cook off teams and have been doing it a very long time.I do know what I am talking about. Try these tips and I promos you your bbq will be better then you ever thought.