What you described is MLT (Minimal Leak Technique) or MOP (Minimal Occlusion Pressure) which is what RTs do until they can get their gadgets hooked up. A manometer is the best.
Some have a difficult time understanding that it isn't the amount of air placed in the cuff but the fit of the tube in the trachea that varies the pressure. The cuff size will also vary with tube size. And, there are many different cuffs. There is no set recipe or magical number for filling a cuff.
Also, some will claim to see the ETT pass through the cords but what they may not see is the cuff expand and if the tube is just slightly higher than it should be, the cuff will pop back through the cords. If it doesn't go to the esophagus, the cuff may just lie supraglottic giving the provider the false security that the tube is in the correct position. But when the patient arrives at the hospital, when the RT does a MLT, they will realize they can not make a seal with the usual amount of air. Correlating that to the tube marking at the gum or lip line will tell them the tube is misplaced.
The ETT is still a "secure" airway but some will have to remember that it may just slow down the inevitable as secretions will eventually make it to the lungs. Suctioning is not adequately taught in EMT(P) which would also explain why CPAP gets placed on aspirated scrambled eggs and oatmeal each morning by some provider who didn't clear the airway before applying. Usually, one the airway is clear there is not a need for CPAP. However, once CPAP is applied with aspirated secretions, ETI will be needed.
Another little tidbit is we no longer inflate trach cuffs to prevent patients from aspirating when eating. We found they aspirate more by not being able to equalize the pressures within their chest and the cuff may get over inflated and place pressure against the esophagus causing the food to not be swallowing.
The best method for swallowing with a trach, whether on a ventilator or not, is cuff deflated with a Passy-Muir Valve in place which helps to create a relatively normal pressure within the chest.
http://www.passy-muir.com/
Christopher Reeve used this device when he was speaking. It is essentially a one way valve that allows air to enter through the trach but then must exit through the throat and cords.
For nurses and RTs, there are 5 free CEUs on that website.