I've heard it's very effective, but never heard it was better than an inter-cooler.
Be careful, I hear you can cause issues if you increasing timings with the lower temperature headroom factored in.. but obviously, only if your solenoid clogs/fails or you forget your mixture and it drops, etc.
Also, I hear the methanol cannot be seen burning in day-time so I'd go to added effort to secure/contain it..
Good luck, pics when done would be cool.
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