From the little experience I have with Peace Lilies, too much water is waaaaay worse than too little. And the same with light. Too much is way worse than too little. I have one (still in need of repotting, when I find a suitable pot) that lives on my upstairs landing, where the closest window is about 8 feet away and on the north side. I tend to forget it till it starts drooping, then I throw some water on it. Poor thing. But it's still living after about 4 years of neglect! I don't think drenching it is the hot tip, because standing water will kill them faster than just about anything.
