The good thing is that you already have a gauge so you can keep the egt's in check. I don't know how long your clutch will last, but, like you said, you can keep it set low until you replace same. If you talk with Mark Chapple, he will tell you the box will affect the timing, boost and fuel. I can tell you that it doesn't affect the timing the same way a Edge EZ box does. It does have a built in boost module and of course, affects the fuel flow from the VP44 as you have to tap into the pumps wire for the install.
I have the competiton version piggybacked to the Edge EZ. I like it enough in levels 1-6 (6 would be setting nine on the standard PM3 box). Anything above that my box acts real radical, for lack of a better term. There is a heavy defueling shutter when you let off the go pedal in levels 7-9 and a moderate shutter when you try to nail it, again, in the same levels. Not a big deal to me, as I usually just run with the TST off and save it for play only. I can tell you that levels 1-6 are a real kick in the pants and I don't think that you would be disappointed with the standard PM3. Personally, I wouldn't spend the extra $$$ on the competition version again, I think it's a bit harse on the VP44 if used extensivley.
Scott W.