I use the same electric torp tric as you, Nightcrawler (alltough you don't often get the opportunity). I don't understand what you mean with the calm water thing, don't you set your torp for a magnetic keel shot?
I too prefer T1's, but I'm using more and more of a mix these days. But i still don't have the patience to wait untill night to attack.
A T1 disadvantage: even if a merchant, in a daytime-attack, sees the steamer torp, but isn't able to get away in time, he will have still screwed up your possible one-kill-shot with his manoevring.