I just visited a website of a company that basically sells a channeling system to "fix" basement water problems. The system works by fixing any cracks, drilling small holes along the bottom edge of the walls, and then installing a PVC-type faux baseboard that is sealed with some proprietary goo. Next, you run the channel to a drain - voila! Then, you can finish the basement off. This sounds great in theory, especially in areas where waterproofing would cost up to 10% of the home's value or for investor properties.

Is this "retreat but don't surrender" tactic acceptable or even feasible? Why?

There seems to be two "mainstream" choices (sorry, bad pun): The exterior excavation method or the or the "crack the basement floor" method. . .
Which is the best?
What do they entail?
Which is better?
What can I expect to pay?
What can I do to mitigate the costs?

Once again, I would like to know the reasons for your answers. Sorry this is so long and tedious, but I like to truly understand problems so that I can (eventually) make up my own mind. I really appreaciate your time and patience. If someone wants to respond, but doesn't want to develop carpal tunnel syndrome over this, e-mail me directly. . . I'll call you.

Thanks,

Ty