Dried nuts ship and store better. You can soak or steam most dried nuts and legumes for a fresher consistency or shorter cooking times.

Where I'm from, fresh Pecans are sweet, pliant, and heavy- pretty typical mammoth halves. The products from the store are not very similar, but that's the cost of keeping them from going rancid on the shelves.

I also soak almonds before pulverizing for a number of un-cooked/toasted Indian dishes. Dried, they're mealy and not very aromatic. Soaked, they're a lot smoother.

How long do they need to soak?

Soaking them, I have been told, also removes some of the less healthy elements within them.

Selling unsoaked nuts is IMO comparable to selling dry rice. I feel food packaging should do more to inform you.

I usually soak them overnight. I will soak then around 10-11 PM and by morning they are soft and tastes a lot better.

Do you toss the water out or does it have any benefit?

The water doesn't have much if any nutritional benefit, but if you like the flavor, you can add it to other things.

Depending, it may be good in smoothies or to steep tea in, to add to rice, oats, or quinoa, or as part of the stock liquid when cooking.

They are if you get them fresh. They are almost like coconut meat.