Cheesecake in or next to waterbath I've heard of two separate ways to use a water bath when cooking a cheesecake: placing the cheesecake in the waterbath, or placing a roasting pan full of water on the bottom rack of the oven, with the cheesecake on the top rack. I like the idea of not putting my cheesecake in the water, which avoids the need to wrap the pan in foil. Do these two separate methods create any discernible difference in the final result? Is one better than the other?
The purpose of the water is to cook the custard slowly- essentially poaching it. It takes out some insurance against it overheating and breaking.

Suspending the cheesecake over the water would not have the same effect- steam can get hotter than the curdling temperature of eggs. It would be a thermal mass that might even out some temperature variation in your oven and it would keep things humid. If your oven is working well these effects aren't needed.

Plenty of cheesecake recipes don't take out the water-bath-insurance. My opinion is that suspending the cake above the pan would not be helpful.