I've shot feathers, vanes, and Blazers. I shoot FMJ arrows, with only about 1.5" cut off, so my arrows need all the help they can get. After going round and round messing with fletching combos, I'm back to feathers. I find that they stabilize my logs quicker, making me a little more accurate. The thought behind the Blazer is that they are short, but very stiff, giving you the stabilization quickly, but without the drag of a larger vane. I used them when I was shooting 3D tourneys and they did work just fine, but on my hunting setup, it's all feathers for me.

And yes, wet feathers do shoot just like dry ones in my experience.