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... i think i'm about sold on this. i suppose it causes no more harm to your engine than a regular aftercooler/intercooler?
i don't think aquamist.com is the right URL for what you're talking about though.
it will cause harm, theres never a free lunch in life. i work in the power industry. we use steam/water injection in our combustion turbines to boost power output of the generator sets, these are the real deal: 220,000 hp output, 24/7 for 6 years before an overhaul is needed. the water/steam injection basically increases mass flow, cools things down so you can cram more air & fuel into the combustor. we can get another 20,000 hp out of it with the water injection. problem is the water/steam hits the hot metal and causes alot of thermal stress. as such we can only use it for 200 hours in a year. the pistons & rings in a car would suffer the same thermal stress, and comparably speaking, they are made of twigs & paper compared to the metallurgy in a turbine.
similar to the thinking that you never want to put cold oil into a hot engine.