In a book written in the 80-ies by Lars Kjellberg (in the late 90-ies the author of the Photodo.se site) he did a series of tests on lots of film and he stated that:
Presoaking adds about 30 seconds to the development time, this because of the time it takes for the developer to replace the water in the emulsion, as Bruce W. pointed out.
It (probably) gives you a more even development, mainly due to the longer development time. (Also by the slower start, again pointed out by Bruce W.) This is an even more important factor when the dev. times are below 5 minutes.
//Björn
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