I've used this method many times and the steaks do come out great. I think the theory is that this method results in more moisture being removed from the meat so it sears better.
I think it's best suited to thicker cuts of meat IMO. If you're 1inch or less I wouldn't bother. You should be doing this with 1.5inch plus cuts. Between 1 and 1.5 inches...your call
With thinner steaks I find the usual method is faster and the results are excellent if done properly.
Unless you have the remarkable ability to work out the internal temperature of meat by looking and touching alone I'd get a meat thermometer.
This method takes time so I don't always use it and lately I've been buying thinner steaks. I figure if I cut back on the steak I can balance it out with more wine!
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