I toyed with that idea as well, but I came to the conclusion that I'm blessed to be living in a naturally humid part of the world (on the shore of one of the Great Lakes and ~50 km from a second) PLUS I'm close enough to sea level that it doesn't have to be factored into any equation.
Anyway, my idea was to use a loop of hot engine coolant to cook the water vapour etc caught by an air-oil separator/catch can and re-introduce it into the input air stream without compromising intake manifold vacuum. There are websites for people who have integrated a supplemental hydrogen system on their cars, or HHO, but you can go down that rabbit hole when you get to it...Check the EGR and DPFE threads...(Exhaust Gas Recirculation and Differential Pressure Feedback something...the DPFE is sort of an actuator and check system for the EGR valve, which allows hot exhaust into the manifold, a factory programmed and calibrated vacuum leak. It's supposed to warm the input airstream so that the compression stroke actually compresses, and probably has something to do with aiding in gas vapourization, but my thinking is that while cool air won't compress to the same extent, it's more dense and when combined with fuel and spark in the correct amounts at the proper times, the reaction will be more explosive. I never got around to bypassing the EGR system by fooling the DPFE sensor on my now deceased truck, but by removing the intake manifold connection to the "cooling" system, the intake air was closer to ambient and I saw a gain in economy. I commented on those threads with how effective it was; I seem to recall it got me a gain of around 2-3 MPG, probably from the faster warm-up to closed loop fuel delivery). 1-2 MPG gains in enough places will have a significant effect, right?
How has your fuel economy improved thus far with the change in fuel grade, spark plug gap increase, PCV re-route and tire pressure increase? are you seeing a 3-4 MPG improvement?