HI,
Don't worry about it spraying on the iat, it's coated and sure it will read lower if it actually saturates it, but it really doesn't, it's a fog of air, if that, it evaporates quickly.
But yes, it can saturate it and can make it read low.
As an example, under good air, I run 19degs on my 5.3L with 5psi with the intercooler, the meth does a bit better, so 8psi should be ok around 18-24degs of timing, depending on the truck.
Now that you have an '02 PCM, I bet we get some good timing out of it and the iat's start to show good readings with the grommet it in and relocated.
How much boost is your truck going to produce? Is it just the intercooler, no meth?
I'd say let's start out with 18psi with 5-7psi.
hurry up, heheh!
allen