James Jackson and I have been doing some research and we've come to the conclusion that water catchers do chance the sound quality of your horn, although it may seem ever so slight!
James is great at picking apart and analyzing sounds, and I noticed a huge difference when I removed the water catcher from my 4052...James decided to do the same with his new Willson celebration horn. His rationale was that the air can move through the bell, and the open "nipples" of the horn.
In his own words..."I'd get my pants wet to sound good". He's of course not suggesting that you won't sound good with a water catcher...but we do believe that it affects the sound.
What say you all?