If you are staying a bit light on the throttle to avoid downshifts, as one does in an automatic, I'd be worried you'd also be out of WOT and boosting in closed loop. IMO it is not safe to boost in closed loop, not enough fuel. If the software has been modded to overfuel at cruise in anticipation of this I am not sure if it'd pass smog and it might poop the O2 sensor over time.
Look at a Saab or 944 Turbo and you see boost and knock controlled spark, they can pull spark when they see boost rather than getting knock and pulling spark too late. I learned from boosting Saabs that I could have a system that works but for a really hot day or some bad or bogus gas and then something that worked 330 days of the year was in serious distress. The car would get all thin and... it's hard to describe but it'd feel like small dog that'd had a bad day and been teased too much, getting ready to bite someone.
The cool thing about the Saab setup was that it'd dump your boost due to knock so you could see on the boost gauge that something was not right. I could use manual boost control except for the dog days of summer when I had to plug the electronic controller back in for safety. It's pretty easy to hear knock when it is really bad but the controllers would detect it much much earlier.
For the 968 my thought is that if one is serious then use an afrermarket ECU that is boost and knock aware and get tons of spark authority from CoP ignition. Short of that, a system with several logic elements:
1 - Electronic re-circulation valve
2 - WOT switch or TPS based controller
3 - Water/methanol pressure/flow switch
4 - Knock detection
Allow boost only when at WOT and water "boost juice" flow is detected, kill boost with knock events. Run a wideband and knock counter. Clean living and prayer.
One might get some boost with the recirculation valve wide open, I think my car boosts a bit at midrange and under a bit of vacuum but it has a big blower on it.
An intercooler would help if for no other reason to provide a lot of effective manifold/plenum volume and reduce the rate of change of the boost. Water injection is pretty magic in my climate also. In a Saab with knock sensitive boost I could see the boost drop when the water tank was dry. With the water working I could get really crazy with boost. Superchargers are tricky though since they are always spooled, you have to prevent rather than react.
-Joel.