I don't know how well the EBA system will work on wet surfaces (or any surface with reduced traction), as the ABS will kick in more frequently.
The EBA (Electronic Brake Assistance) will take info from various sensors (how quickly you lift the foot off the gas pedal, how much you press the brake pedal etc), understand when it's panic braking and then apply full pressure to the brake system for maximum stopping force. This was designed because surveys and research showed that for various reasons, drivers - when in panic mode - tend not to use full pressure on the brake pedal.
Rael, what you'd like more would probably be, instead of cutting the engine power, applying the brakes on the front wheels ever so slightly in order to reduce their rotation speed, thus spin. This would perhaps work best, but isn't as cost effective as the current TCS operation. I mean, it would wear the brakes pads more easily (and the whole braking system) plus it would cost much more on petrol.
If you want controlled wheel spin and more progress, especially on wet surfaces, get a good 4WD car.