I like it thicker because it gets cooked off a second time during deglazing. If it is too thin, there is too much water to allow the chili puree to fry off a little. I think that deepens and rounds out the flavor, but it could be placebo effectThis is the way I do it, too. Except a couple shortcuts—microwaving the chilies for a minute or two seems to work just fine. Also, I haven’t found any need for a thick chili-soaking liquid purée. Thick or thin, it’s all going in the chili pot and isn’t really enough to mess up the final consistency of the chili.
I make chili in a 6 quart enameled cast iron Dutch oven so I just toast the chiles in that dry as it heats up to brown the meat. I don't see anything wrong with going with chef mike, but I don't see it saving me much time. Plus I stop toasting them by smell and that's easier on the stovetop.