I've got the FR500 catback on order from Fordman and am dying to get it. If the dyno results I've seen are anywhere near the actual performance, I'll be very happy (MMFF tested it for 15hp). Time will tell on that one.
As far as the IAT mod goes, I don't need to bother playing with that. I've got the steeda timing adjuster and can adjust timing at will. Right now, I'm running 16* total advance (6* over stock). I've been a little bit apprehensive about advancing it more until I saw my a/f curve.
I'm actually surprised that with the mods I got richer. I figured it would get leaner as it was able to breath better.
What kind of timing do you have set in your chip if you don't mind me asking?