When seeding my new section of yard two weeks ago, I used the remaining bag of standard Scotts grass seed (northeast variety) on a 14x10 section of new top soil. For the rest of the yard, I spent more money and got the same grass mixture, but with the special coating that promises less water and quicker growth. It was $10 more per bag. I planted everything the same day, in the same area, same top soil, same exposure to water - and the standard, less expensive Scotts seed germinated and sprouted above ground SEVERAL days faster than the other seed. The cheaper stuff sprouted evenly about 4 days ago, and today most of the other seed still hasn't sprouted in several parts, including the section adjacent to the cheap seed. The cheap stuff was 100% sprouted after 9 days from day zero. The expensive stuff has sprouted about 20% of the total area, after two weeks.
I feel ripped off. I can't speak for the less water part, but I'm guessing that is also a crock. Stick with the standard seed and get your lawn quicker and save some money. I also noticed the "coating" on these seeds washes off right away with minimal exposure to water or even moist soil.