According to On Food and Cooking, mushrooms are about 80-90% water.
It makes sense, then, that when frying the mushrooms I should aim to remove as much of that water as possible. That way, I could actually start "frying" and could begin caramelisation and the Maillard Reaction.
Bon Appetit give that exact advice here:
If you keep the heat low, the mushrooms will just simmer in their liquid. Medium high or high heat will get rid of all that liquid, and will give the mushrooms a nice brown color.
Advice from On Food and Cooking, however, is the exact opposite:
Their flavor is generally most developed and intense when they are cooked slowly with dry heat to allow enzymes some time to work before being inactivated, and to cook out some of their abundant water and concentrate the amino acids, sugars, and aromas.
Which approach will work best for extracting the most flavour from mushrooms: low heat, or high heat? And why?