I had a couple of long threads on this a while back. I was so frustrated by those dang cracks. After all of the suggestions from every one here, this is what I found.
If I baked my cheesecake in a water bath (cheesecake pan sitting in a larger pan of water)... it never cracked. BUT, it would not come out as dense (it would be a much softer consistency).
If I baked my cheesecake with a pan of water on the shelf below, it would crack about 50% of the time, but be much denser (thicker consistency - not so shmooshey like the other way).
Flavor would be fine either way - I just got it down to a consistency issue. I tried adding things (flour, cornstarch, etc) and/or deleting things (egg, cc, etc), but I couldn't get anything that would work every time.
So, for me, if I'm baking for me, or if the top will be covered (or for friends)... I do the water below, and take the chance. For a job.. .I always put it in the water.
HTH!
Denise
Oh... the other thing is to make sure your oven temp is accurate.....I was told that it really makes a difference with the cheesecakes.
Only cook your cheesecake until you have a jiggly spot in the middle about the size of a silver dollar.
Cool your cake in the oven with the door open (for at least an hour). This will cool it more slowly and will prevent your cheesecake from cracking and will finishing cooking the center.
Hope this helps, whenever I do this I never have a problem with cracks. It cracks only when I cool it to quickly. 
Okay, here is what I do, and I have NEVER had a cracked cheesecake doing it like this. I learned it from my pastry instrustor at school.
-Preheat your oven to 375, bake for 15 minutes.
-After the cheesecake is out, open the oven door and let it cool down, then set the oven to 250.
-Bake for 2 hours, or until(like someone already said) only the very center is jiggly.
-Let cool on the counter (not the fridge)
I hope this helps, sounds like you know a lot about cheesecakes! I didn't know that about the waterbath making it a softer consistency. Thanks.
~Beth
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