I make lots of cheesecakes and I like this pan. The top ring comes off very easily. It is also much easier to clean (no overlapping metal). Plus you can leave the cake on the bottom for serving. I don't think the seal between the ring and the base is water tight but it certainly holds in the batter (I have not tried it in a deep water bath, just a shallow one that did not go over the base). I did try a test by filling the inside with water and does leak out very slowly (but can it leak in?). It is wider than a 9" springform (about 11" outside diameter) and the ceramic base is on the heavy side (it is thick ceramic).
UPDATE: It is definitely not water tight (one cheesecake down the drain). On top of that, regular aluminum foil is not wide enough to cover the bottom/sides so you need to use the extra-wide stuff. Accordingly, I have reduced my rating to 4 stars.