Water/Alc injection has been used since WWII. We used it on many of our fighters as well as the germans did too. Its good for inducted engines in which it cools down the intake charge. The ammount of water you're putting in doens't negatively effect the engine in any way if it is done right. Check the internet for water injection and you'll get a ton of info.
I'm working on a dual jet system which will have the jets kick on at different times. So I can get a more accurate introduction into the A/F mixture.
'95 Bonneville SSEi - Forest Green Metallic/Dark Tan Leather 136,000 Miles
Mods: Custom Intake w/K&N RX-4750 and custom CAI box, 180 Stat, 24k GVW Tranny Cooler, ZZperformance SC coupler, Sylvania Silverstar (low beams), Michelin Pilot Sport A/* 225/60/16 Tires, RSM Rotors w/Raybestos QuietStop Ceramic Pads, Gold Painted Calipers and Drums, Vented SC cover, Taylor Pro Spark Cables, NGK TR55 Plugs, Red Interior Lights.
Current Projects: 2.5 SC Pulley, Ram Air, Header Wraps, Muffler + Hi-Flow Cat