I think Woodlands sums it up quite well
I have used both systems in different circumstances, I have also done work on comparing systems, there are some differences which may or may not affect your decision.
In summary Both wet and dry systems are capable of creating adequate heat inside a caravan when they are installed to their best advantage
Water is great transporter of heat, and as such a wet system can deliver useful heat to teh extremities of a long caravan, However to make that heat usable, it requires an radiator in the best position. Sometimes caravan design does not allow a radiator to be placed in an ideal position. Also as the system only relies on convection to release the heat teh hot air rises quickly and pools at the top of teh caravan, taking a longtime to get back to floor level. This can lead to hot head cold feet syndrome. I should point out that some people do not mind this effect as much as others - so it may or may not be an issue for you.
By comparison Dry blown Air systems, use a forced fan which mixes the air in the caravan far more effectively reducing the hot head cold feet problem. Over long distances blown air systems are less effective as the duct add significant resistance to the air movement, but in a well set up system, there is still useful heat available at the extremities of medium sized vans, and the forced air mixing keeps the temperature differentials to a minimum. Unfortunately some caravan manufactures do not pay full attention to teh design of their blown air systems, and this can compromise the performance especially in longer vans.
Have I stirred up the mud enough? :huh: