I think you'll have much better success this time, with that size of a pot. I think the problem people have with using the tray method is when their pots aren't tall enough and the Ceph's roots are actually sitting in water. However, my baby has been growing for a year now in a 7 inch tall pot. The tray normally only has 1/4-1/2 inch of water and it normally dries out a day before it's watered the next time.
But yeah, the Ceph and all my sundews are pretty neglected from attention- while I'm away at school for up to 2 months at a time, my mom fills up the tray once or twice a week. She knows extremely little about carnivorous plants, but it shows you that all you need to to is keep them moist if you have a good light setup and the plants are growing in an appropriate soil. My mom's the best.