I've boiled too in the past, and you are absolutely right, it works great for forming leather. Most leather (that I have worked with) has been re-purposed leather, so came from the final manufacturer with oils worked in for pliability.
I kind of stumbled on the RO water accidentally. I had a butchers block in my kitchen, and used to use a bleach solution to clean and disinfect it. One afternoon, one of the kids had spilled a glass of RO H2O on the block, and it had been sitting on the wood for a few minutes, then I noticed a cloudy haze in the pooled water. After watching it a few minutes more I realized the water was lifting "crud" out of the grain. Putting the expensive college education my parents funded to work, I realized it was an osmotic action, the water being the solvent was lifting the matter out of the wood and attempting to reach a stasis condition.
I experimented with other materials (stains on cloth etc...) and tried it on a suede jacket my daughter had....it lifted the stain, but left the area of the stain slightly bleached, and noticeably stiffer.
Like you said, either way works well, but if you boil, just a short dip is best. Water is an exceptional solvent, and when purified by RO becomes a super solvent (chemistry? Oxygen molecules have high affinity for other molecules and readily bind to them....thus Iron (Fe) when oxygen binds to it produces Fe2O3, iron oxide...which we call rust but is really a misnomer as rust is considered hydrated ferric oxide [H2O and Fe2].....ok, enough chemistry class...I probably don't remember it perfectly anyhow...it's been 30 years since I graduated)
More coffee......