Interim spins
I've found that fast interim spins are crucial to rinsing, especially with modern water saving machines. Although rinsing is a process of dilution, interim spins spin as much soap (as well as dirt) out of the laundry as possible before the rinse cycle even begins - which means that the rinses don't need to rinse out as much to start with and thus can use less water/rinses.
My Miele will spin at 1000 for about 2-4 minutes after the wash (depending how heavy the load is), then at 2 mins at 1000 between each rinse, my AEG will spin for about 2 mins at 800 after the wash, increasing the speed by 200 after each rinse (i.e 1000 after rinse 1, 1200 after rinse 2, 1400 after rinse 3, before the final rinse) - and when using low water levels laundry was better rinsed using 2 or 3 rinses than our old GEC made Creda and Hotpoint machines which would do 4 high level rinses with not as much spinning between the rinses. Conversely, our Bosch Exxcel had slow interim spins combined with low water level rinses, and this was the worst rinsing machine we ever had, so interim spins are important.
Adding to that, I've never had trouble with dirt being spun back into laundry (IMO I think it is an urban myth), and laundry is no more creased than if you used slow spins. Besides, if you are washing laundry that is prone to creasing you should use a more suitable cycle rather than a cottons cycle.
Only time nowadays I use higher water levels (fortunately I can programme this into the Miele and AEG), is for the vintage effect.
Jon