Traction Control (Red 53) on non TC Vehicle

[QBRacing74]

BACKGROUND
I am currently putting a 2000 LS1 from a VT Holden Commodore into my 1958 Chevy Apache.
Using HPTuners and my MPVI2, I disabled VATS and did a few other things and got the car running before rebuilding the motor (to make more power).... Heads, cam, intake etc etc.

I was thinking as my fuel pump, diff, driveshaft etc are all built to about 650hp and the engine MIGHT be lucky to make 500 ATM, that a NOS kit might be cool for the track and what better what than via the factory spark retard.

I have read heaps of posts about people switching the IAC with a resistor to go to an out of range temp then use the temp maps for fuel and timing but it seems a little OTT when when I dont have traction control or drive by wire (yip, still using a cable). really im thinking a wet kit so only want to adjust the timing.

MY IDEA
I have a mate thats an electronics wizard. He previously made me a little control circuit for the Power/Eco Switch which when the car turns on, starts up and ensures the PCM thinks it is in ECO mode. Push the factory button, his circuit turns on the lamp in the switch and supplies a momentary signal to the PCM and the PCM switches to power mode. (video here -from 1min50ish)

I have asked him if he could make me another one that I can use with the factory VT Commodore traction control button which works in the same fashion but rather than a temporary pulse it would supply a solid earth. This I would then connect to the PCM (red 53) wire and hey presto I can use the spark retard table to retard 4 degrees to safely run a 100 wet shot (for example). I could also use the earth to trigger the nos relay so its only waiting on the WOT switch before squirting..... if that makes sence.

Attachment shows the factory button (only the power/eco is working atm)

QUESTION TIME
Being I run a 4150 style intake I was thinking wetshot over dryshot. This means I can leave the injectors alone and simply adjust the timing. If I went to dry shot I could use the earth trigger to switch a relay for the IAT option as well then control fueling to the injectors via the temp tables but I think thats overkill and more work.

This all seems to simple to me, have I missed something?
20191118_172622.jpg

[QBRacing74]

Oh.... and because I run a 4150 style intake I will be changing to a MAFLESS tune shortly....
This was one other reason I thought wetshot over dryshot for NOS and simply modifying as above.

Is what I am thinking possible or am I being an idiot...