Please post your results, I'd been thinking about doing this when I do my 4v swap.
As far as the location debate goes.... why on earth would you mount it pre-IC? It's entirely possible if it's working well enough that the intercooler will be putting heat back in to your intake charge, depending on the intercooler fluid temps.
Why would you run 100% meth? I know some tuners advocate it, but scientifically it doesn't really make sense. If you're just trying to reduce intake charge temps, provided you can get it to evaporate, water is going to be FAR more effective at removing heat from the intake charge.
If you're spraying enough, the methanol will add a noticeable bit of octane/knock resistance, which is also a good thing... but it's specific heat is much lower than that of water.