Greg I think you are right about the hype with one exception, - If the connector or coupling is installed above a piece of gear that could be damaged or compromised by water entering around the fitting, then it makes sense to have a watertight fitting. As for something in the ground or something that needs to be drained anyway- who cares if it's rain tight. I used to think that compression connector/couplings were required in wet locations because they provided a better ground path than set screw connectors/couplings but I'm not so sure anymore with all the tolerances permitted.